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Home » US Law » 2020 Arkansas Code » Title 4 - Business and Commercial Law » Subtitle 4 - Partnerships » Chapter 47 - Uniform Limited Partnership Act (2001) » Subchapter 7 - Transferable Interests and Rights of Transferees and Creditors

§ 4-47-702. 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 […]

§ 4-47-703. 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. […]

§ 4-47-704. 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 § 4-47-702 and, for the purposes of settling the estate, may exercise the rights of a current limited partner under § 4-47-304.