Section 54-2A-701 – Partner’s transferable interest.
The only interest of a partner that is transferable is the partner’s transferable interest. A transferable interest is personal property. History: Laws 2007, ch. 129, § 701. ANNOTATIONS Effective dates. — Laws 2007, ch. 129, § 1208 made the section effective January 1, 2008.
Section 54-2A-702 – Transfer of partner’s transferable interest.
A. A transfer, in whole or in part, of a partner’s transferable interest: (1) is permissible; (2) does not by itself cause the partner’s dissociation or a dissolution and winding up of the limited partnership’s activities; and (3) does not, as against the other partners or the limited partnership, entitle the transferee to participate in […]
Section 54-2A-703 – Rights of creditor of partner or transferee.
A. On application to a court of competent jurisdiction by any judgment creditor of a partner or transferee, the court may charge the transferable interest of the judgment debtor with payment of the unsatisfied amount of the judgment with interest. To the extent so charged, the judgment creditor has only the rights of a transferee. […]
Section 54-2A-704 – Power of estate of deceased partner.
If a partner dies, the deceased partner’s personal representative or other legal representative may exercise the rights of a transferee as provided in Section 702 [54-2A-702 NMSA 1978] of the Uniform Revised Limited Partnership Act and, for the purposes of settling the estate, may exercise the rights of a current limited partner pursuant to Section […]