Partner’s transferable interest in partnership

1. Law
2. District of Columbia Code
3. Business Organizations. [Enacted title]
4. General Partnerships
5. Transferees and Creditors of Partner
6. Partner’s transferable interest in partnership

Except as otherwise provided in subchapter IX of this chapter or Chapter 2 of this title, the only transferable interest of a partner in the partnership is the partner’s share of the profits and losses of the partnership and the partner’s right to receive distributions. The interest of a partner, whether or not transferable, shall be personal property.

(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(f)(5)(A), 59 DCR 13171.)

Prior Codifications

1981 Ed., § 41-155.2.

2001 Ed., § 33-105.02.

Effect of Amendments

The 2013 amendment by D.C. Law 19-210 substituted “is” for the first occurrence of “shall be.”

Editor's Notes

Uniform Law: This section is based on § 502 of the Uniform Partnership Act (1997 Act).

Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.

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