{"data":{"id":"us-az/a.r.s.-29-342","jurisdiction":"us-az","citation":"A.R.S. § 29-342","heading":"Right of assignee to become limited partner","body":"A. An assignee of a partnership interest, including an assignee of a general partner, may become a limited partner if and to the extent that:\n\n1. The assignor gives the assignee that right in accordance with authority described in the partnership agreement; or\n\n2. All other partners consent.\n\nB. An assignee who has become a limited partner has, to the extent assigned, the rights and powers and is subject to the restrictions and liabilities of a limited partner under the partnership agreement and this chapter. An assignee who becomes a limited partner also is liable for the obligations of his assignor to make and return contributions as provided in articles 5 and 6 of this chapter. However, the assignee is not obligated for liabilities unknown to the assignee at the time he became a limited partner.\n\nC. If an assignee of a partnership interest becomes a limited partner, the assignor is not released from his liability to the limited partnership under sections 29-314 and 29-328.","path":["Title 29 Partnership"],"source_url":"https://www.azleg.gov/ars/29/00342.htm","current_through":"2026-09-04","vintage":"2026-08-09","retrieved_at":"2026-09-04T00:49:56Z","sha256":"4ac0e3c896418b9e276418166b3c036f5fb667d86676e6d8f5267520c55b0cf5","source_id":"us-az","stale":true,"prev":"us-az/a.r.s.-29-3410","next":"us-az/a.r.s.-29-343"},"notice":"GroundRules: Original legal text. Not legal advice."}