§ 61-1-502. Partner’s Transferable Interest in Partnership
The only transferable interest of a partner in the partnership is the partner’s share of the profits and losses of the partnership and the partner’s right to receive distributions. This interest is personal property.
§ 61-1-503. Transfer of Partner’s Transferable Interest
A transfer, in whole or in part, of a partner’s transferable interest in the partnership: Is permissible; Does not by itself cause the partner’s dissociation or a dissolution and winding up of the partnership business; and Does not, as against the other partners or the partnership, entitle the transferee, during the continuance of the partnership, […]
§ 61-1-504. Partner’s Transferable Interest Subject to Charging Order
On application by a judgment creditor of a partner or of a partner’s transferee, a court having jurisdiction may charge the transferable interest of the judgment debtor to satisfy the judgment. The court may appoint a receiver of the share of the distributions due or to become due to the judgment debtor in respect of […]
§ 61-1-501. Partner Not a Co-Owner of Partnership Property
Partnership property is owned by the partnership as an entity. A partner is not a co-owner of partnership property and has no interest in partnership property which can be transferred, either voluntarily or involuntarily.