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KRS 362.479

Assignment of partnership interest

Effective: June 26, 2007 History: Repeal the prior repeal contained in 2006 Ky

Unless otherwise provided in the partnership agreement:

(1) A partnership interest shall be assignable in whole or in part;

(2) An assignment of a partnership interest shall not dissolve a limited partnership or entitle the assignee to become or to exercise any rights of a partner;

(3) An assignment shall entitle the assignee to receive such distributions, and to receive such allocation of income, gain, loss, deduction or credit or similar item, to which the assignor was entitled, to the extent assigned; and (4) A partner shall cease to be a partner upon the assignment of all of his partnership interest.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.