California Corporations Code

§ 16503

CORP § 16503 Effective Jan 1, 1997Title 2 · Ch. 5 · Art. 5

Statute text

(a)A transfer, in whole or in part, of a partner’s transferable interest in the partnership is permissible. However, a transfer does not do either of the following:

(1)By itself cause the partner’s dissociation or a dissolution and winding up of the partnership business.

(2)As against the other partners or the partnership, entitle the transferee, during the continuance of the partnership, to participate in the management or conduct of the partnership business, to require access to information concerning partnership transactions, or to inspect or copy the partnership books or records.

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Legislative history

Added by Stats. 1996, Ch. 1003, Sec. 2. Effective January 1, 1997.