50-73.45 - Assignment of partnership interest. - Virginia Statutes

§ 50-73.45. Assignment of partnership interest.

Except as provided in the partnership agreement, a partnership interest isassignable in whole or in part. An assignment of a partnership interest doesnot dissolve a limited partnership or entitle the assignee to become or toexercise any rights of a partner. An assignment entitles the assignee toreceive, to the extent assigned, only the distribution to which the assignorwould be entitled. Except as provided in the partnership agreement, a partnerceases to be a partner upon assignment of all his partnership interest.

(1985, c. 607.)