Assignment

1. Law
2. Tennessee Code
3. Partnerships
4. Revised Uniform Limited Partnership Act
5. Partnership Interests
6. Assignment

1. Unless otherwise provided in the partnership agreement:
   1. A partnership interest is assignable in whole or in part;
   2. An assignment of a partnership interest does not dissolve a limited partnership or entitle the assignee to become or to exercise any rights or powers of a partner;
   3. An assignment entitles the assignee to receive, to the extent assigned, only the distribution to which the assignor would be entitled; and
   4. A partner ceases to be a partner and to have the power to exercise any rights or powers of a partner upon assignment of all of his partnership interest.
2. The partnership agreement may provide that a partner's interest in a limited partnership may be evidenced by a certificate of partnership interest issued by the limited partnership and may also provide for the assignment or transfer of any partnership interest represented by such a certificate and make other provisions with respect to such certificates.
3. Unless otherwise provided in a partnership agreement and except to the extent assumed by agreement, until an assignee of a partnership interest becomes a partner, the assignee shall have no liability as a partner solely as a result of the assignment.

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