The only transferable interest of a partner in the partnership is the partner’s share of the profits and losses of the partnership and the partner’s right to receive distributions. The interest is personal property.
Cal. Corp. Code § 16502
Transferees and Creditors of Partner
Known as the Uniform Partnership Act
The act spans §§ 16100–16962 (85 sections).
Applied in 1 court decision — leading case 237 Cal. App. 4th 921 - In re Marriage of Lafkas (2015)
Most recently applied in 237 Cal. App. 4th 921 - In re Marriage of Lafkas (June 2015)
Added by Stats. 1996, Ch. 1003, Sec. 2
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.