Section 48-7-702 - Assignment of partnership interest. - South-dakota Statutes

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Statutes > South-dakota > Title-48 > Chapter-07 > Statute-48-7-702

48-7-702. Assignment of partnership interest. Except as 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 of a partner. An assignment entitles the assignee to receive, to the extent assigned, only the distribution to which the assignor would have been entitled. Except as provided in the partnership agreement, a partner ceases to be a partner upon assignment of all his partnership interest.

Source: SL 1986, ch 391, § 702.

State Codes and Statutes

Statutes > South-dakota > Title-48 > Chapter-07 > Statute-48-7-702

48-7-702. Assignment of partnership interest. Except as 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 of a partner. An assignment entitles the assignee to receive, to the extent assigned, only the distribution to which the assignor would have been entitled. Except as provided in the partnership agreement, a partner ceases to be a partner upon assignment of all his partnership interest.

Source: SL 1986, ch 391, § 702.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-48 > Chapter-07 > Statute-48-7-702

48-7-702. Assignment of partnership interest. Except as 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 of a partner. An assignment entitles the assignee to receive, to the extent assigned, only the distribution to which the assignor would have been entitled. Except as provided in the partnership agreement, a partner ceases to be a partner upon assignment of all his partnership interest.

Source: SL 1986, ch 391, § 702.