US Lawyer Database

§ 61-2-701. Nature

A partnership interest is personal property. A partner has no interest in specific limited partnership property.

§ 61-2-702. Assignment

Unless otherwise provided in the partnership agreement: A partnership interest is assignable in whole or in part; An assignment of a partnership interest does not dissolve a limited partnership or entitle the assignee to become or to exercise any rights or powers of a partner; An assignment entitles the assignee to receive, to the extent […]

§ 61-2-703. Rights of Judgment Creditor

On application to a court of competent jurisdiction by any judgment creditor of a partner, the court may charge the partnership interest of the partner with payment of the unsatisfied amount of the judgment with interest. To the extent so charged, the judgment creditor has only the rights of an assignee of the partnership interest. […]

§ 61-2-704. Rights of Assignee — Liabilities

An assignee of a partnership interest, including an assignee of a general partner, may become a limited partner if and to the extent that: The partnership agreement so provides; or All partners consent. An assignee who has become a limited partner has the rights and powers, and is subject to the restrictions and liabilities, of […]

§ 61-2-705. Deceased or Incompetent Partners

If a partner who is an individual dies or a court of competent jurisdiction adjudges him to be incompetent to manage his person or his property, the partner’s executor, administrator, guardian, conservator or other legal representative may exercise all of the partner’s rights for the purpose of settling his estate or administering his property, including […]