{"data":{"id":"us-id/idaho-code-30-23-503","jurisdiction":"us-id","citation":"Idaho Code § 30-23-503","heading":"TRANSFER OF TRANSFERABLE INTEREST.","body":"(a) A transfer, in whole or in part, of a transferable interest:\n(1) Is permissible, except the transfer of a transferable interest in a professional entity is not permissible without compliance with section 30-21-901(i), Idaho Code;\n(2) Does not by itself cause a partner’s dissociation or a dissolution and winding up of the partnership business; and\n(3) Subject to section 30-23-505, Idaho Code, does not entitle the transferee to:\n(A) Participate in the management or conduct of the partnership’s business; or\n(B) Except as otherwise provided in subsection (c) of this section, have access to records or other information concerning the partnership’s business.\n(b) A transferee has the right to:\n(1) Receive, in accordance with the transfer, distributions to which the transferor would otherwise be entitled; and\n(2) Seek under section 30-23-801(5), Idaho Code, a judicial determination that it is equitable to wind up the partnership business.\n(c) In a dissolution and winding up of a partnership, a transferee is entitled to an account of the partnership’s transactions only from the date of dissolution.\n(d) A partnership need not give effect to a transferee’s rights under this section until the partnership knows or has notice of the transfer.\n(e) A transfer of a transferable interest in violation of a restriction on transfer contained in the partnership agreement is ineffective as to a person having knowledge or notice of the restriction at the time of transfer.\n(f) Except as otherwise provided in section 30-23-601(4)(B), Idaho Code, if a partner transfers a transferable interest, the transferor retains the rights of a partner other than the transferable interest transferred and retains all the duties and obligations of a partner.\n(g) If a partner transfers a transferable interest to a person that becomes a partner with respect to the transferred interest, the transferee is liable for the partner’s obligations under sections 30-23-404 and 30-23-407, Idaho Code, known to the transferee when the transferee becomes a partner.","path":["TITLE 30 CORPORATIONS","CHAPTER 23 GENERAL PARTNERSHIPS","PART 5 TRANSFERABLE INTERESTS AND RIGHTS OF TRANSFEREES AND CREDITORS"],"source_url":"https://legislature.idaho.gov/statutesrules/idstat/title30/t30ch23/sect30-23-503/","current_through":"2026 Legislative Session","vintage":"","retrieved_at":"2026-09-04T11:18:35Z","sha256":"a6277a65ece65490319c26b9541964a5bb1f0e5c09f424b851260e14dabe8b7a","source_id":"us-id","stale":false,"prev":"us-id/idaho-code-30-23-502","next":"us-id/idaho-code-30-23-504"},"notice":"GroundRules: Original legal text. Not legal advice."}