§ 7-12-38 - Assignment of partner's interest. - Rhode Island Statutes

SECTION 7-12-38

   § 7-12-38  Assignment of partner'sinterest. – (a) A conveyance by a partner of his or her interest in the partnership doesnot of itself dissolve the partnership, nor, as against the other partners inthe absence of agreement, entitle the assignee, during the continuance of thepartnership, to interfere in the management or administration of thepartnership business or affairs, to require any information or account ofpartnership transactions, or to inspect the partnership book. It merelyentitles the assignee to receive in accordance with his or her contract theprofits to which the assigning partner would otherwise be entitled.

   (b) In case of a dissolution of the partnership, the assigneeis entitled to receive his or her assignor's interest and may require anaccount from the date only of the last account agreed to by all the partners.