{"data":{"id":"us-nc/n.c.-gen.-stat.-59-702","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 59-702","heading":"Assignment of partnership interest.","body":"Except as provided in the partnership agreement, a partnership interest is assignable in whole or in part. Subject to G.S. 59-801(3) an assignment of a partnership interest does not dissolve a limited partnership or entitle the assignee to become or to exercise any rights of a partner. An assignment entitles the assignee to receive, to the extent assigned, only the allocation and distribution to which the assignor would be entitled. Except as provided in the partnership agreement, a partner ceases to be a partner and to have the power to exercise any rights and powers of a partner upon assignment of all of the partner's partnership interest. Except as provided in the partnership agreement, neither the pledge or granting of a security interest in any or all of the partnership interest of a partner nor the pledge or granting of a lien or other encumbrance against any or all of the partnership interest of a partner shall cause the partner to cease to be a partner or cease to have the power to exercise any rights or powers of a partner. (1985 (Reg. Sess., 1986), c. 989, s. 2; 1987, c. 531, s. 7; 1999-362, s. 31.)","path":["Chapter 59. Partnership.","Article 5. Revised Uniform Limited Partnership Act.","Part 7. Assignment of Partnership Interest."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_59/GS_59-702.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:07:02Z","sha256":"5533ac7e26f72da21c6612b0ed88c5994b71007e020ba0132e985ca1e7c5a810","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-59-701","next":"us-nc/n.c.-gen.-stat.-59-703"},"notice":"GroundRules: Original legal text. Not legal advice."}