Section 10A-9A-7.01 – Transferable Interest.

Section 10A-9A-7.01 Transferable interest. The only interest of a partner which is transferable is the partner’s transferable interest. A transferable interest is personal property. (Act 2016-379, §1.)

Section 10A-9A-7.02 – Transfer of Partner’s Transferable Interest.

Section 10A-9A-7.02 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; (3) does not by itself cause a dissolution and winding up of the limited partnership; and (4) subject to Section 10A-9A-7.04, does not […]

Section 10A-9A-7.03 – Rights of Creditor of Partner or Transferee.

Section 10A-9A-7.03 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 and […]

Section 10A-9A-7.04 – Power of Personal Representative of Deceased Partner.

Section 10A-9A-7.04 Power of personal representative of deceased partner. If a partner dies, the deceased partner’s personal representative or other legal representative may: (a) for the period of time that the deceased partner’s personal representative or other legal representative holds the deceased partner’s transferable interest: (1) exercise the rights of a holder of transferable interests […]