Skip to navigation Skip to content Skip to subnav
Searching 2017-2018 Session

The Vermont Statutes Online

Title 11 : Corporations, Partnerships and Associations

Chapter 023 : LIMITED PARTNERSHIPS

Subchapter 007 : Assignment of Partnership Interests

(Cite as: 11 V.S.A. § 3462)
  • § 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. (Added 1997, No. 149 (Adj. Sess.), § 4, eff. Jan. 1, 1999.)