Sec. 702. Except as provided in the partnership agreement: (i) a partnership interest is assignable in whole or in part; (ii) 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; (iii) an assignment entitles the assignee to receive, to the extent assigned, only the distribution to which the assignor would be entitled.
Mich. Comp. Laws § 449.1702
Partnership interest; assignment; effect
Applied in 1 court decision — leading case In Re Cardinal Industries, Inc. (1990)
Most recently applied in In Re Cardinal Industries, Inc. (May 1990)
1982, Act 213, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.