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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) Unless otherwise provided in the partnership agreement, a partnership interest is assignable in whole or in part.
(b) An assignment of a partnership interest does not dissolve a limited partnership or entitle the assignee to become a partner or, unless otherwise provided in the partnership agreement, exercise any rights of a partner.
(c) Unless otherwise provided in the partnership agreement, an assignment entitles the assignee to receive, to the extent assigned, only the distributions to which the assignor would be entitled.
(d) A partnership agreement may provide that a partnership interest may or shall be transferred or assigned in whole or in part to one or more persons, including on the occurrence of any of the events described in § 10-402 of this title, regardless of whether the persons to whom the interest is transferred or assigned are partners.
Cite this article: FindLaw.com - Maryland Code, Corporations and Associations § 10-702 - last updated January 01, 2025 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-10-702/
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