North Dakota Century Code Title 45. Partnerships § 45-10.2-63. Transfer of the transferable interest of a partner

1. A transfer, in whole or in part, of the transferable interest of a partner:

2. A transferee has a right to receive, in accordance with the transfer:

3. In a dissolution and winding up, a transferee is entitled to an account of the transactions of the limited partnership only from the date of dissolution.

4. Upon transfer, the transferor retains the rights of a partner other than the interest in distributions transferred and retains all duties and obligations of a partner.

5. A limited partnership need not give effect to the rights of a transferee under this section until the limited partnership has notice of the transfer.

6. A transfer of the transferable interest of a partner in the limited partnership in violation of a restriction on transfer contained in the partnership agreement is ineffective as to a person having notice of the restriction at the time of transfer.

7. A transferee that becomes a partner with respect to a transferable interest is liable for the obligations of the transferor under sections 45-10.2-47 and 45-10.2-54. However, the transferee is not obligated for liabilities unknown to the transferee at the time the transferee became a partner.