N.J. Stat. § 42:2A-47
Assignment of partnership interest; rights of assignee
New Jersey · New Jersey Statutes Title 42 — Partnerships and Partnership Associations · Status: effective
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- Citation
- N.J. Stat. § 42:2A-47, Assignment of partnership interest; rights of assignee, New Jersey, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1470239
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Full text
Assignment of partnership interest; rights of assignee. 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 partnership interest. Notwithstanding the foregoing, a general partner who assigns all of his general partnership interest shall cease to be a general partner only upon the filing of a certificate reflecting that fact in accordance with this chapter.