Vermont Code § 11 V.S.A. § 3462

Assignment of partnership interest
Open in Lexace · Ask the AI about this section
§ 3462. Assignment of partnership interest
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 or her partnership interest.

‹ Prev All Vermont sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.