The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
007
:
ASSIGNMENT OF PARTNERSHIP INTERESTS
(Cite as: 11 V.S.A. § 3462)
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§ 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.)