Md. Code Ann., Corps. & Ass'ns § 10-702
Redline — January 1, 2019 → current.View current text →
Current — January 1, 2023
As of January 1, 2019
Unless otherwise 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 a partner or, unless otherwise provided in the partnership agreement, exercise any rights of a partner. 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.
(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.
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.