Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 29. Partnership |
Chapter 3. LIMITED PARTNERSHIPS |
Article 7. Assignment of Partnership Interests |
Sec 29-340. Assignment of partnership interest
Latest version.
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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 be entitled. Except as provided in the partnership agreement, a partner ceases to be a partner upon assignment of all his partnership interest.