{"data":{"id":"us-nd/n.d.-cent.-code-45-10.2-63","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 45-10.2-63","heading":"(702) Transfer of the transferable interest of a partner","body":"1.A transfer, in whole or in part, of the transferable interest of a partner:\na.Is permissible;\nb.Does not by itself cause the dissociation of a partner or a dissolution and winding up of the activities of the limited partnership; and\nc.Does not, as against the other partners or the limited partnership, entitle the transferee:\n(1)To participate in the management or conduct of the activities of the limited partnership;\n(2)To require access to information concerning the transactions of the limited partnership except as otherwise provided in subsection 3; or\n(3)To inspect or copy the required information or the other records of the limited partnership.\n2.A transferee has a right to receive, in accordance with the transfer:\na.Distributions to which the transferor would otherwise be entitled; and\nb.Upon the dissolution and winding up of the activities of the limited partnership the net amount otherwise distributable to the transferor.\n3.In a dissolution and winding up, a transferee is entitled to an account of the transactions of the limited partnership only from the date of dissolution.\n4.Upon transfer, the transferor retains the rights of a partner other than the interest in distributions transferred and retains all duties and obligations of a partner.\n5.A limited partnership need not give effect to the rights of a transferee under this section until the limited partnership has notice of the transfer.\n6.A transfer of the transferable interest of a partner in the limited partnership in violation of a restriction on transfer contained in the partnership agreement is ineffective as to a person having notice of the restriction at the time of transfer.\n7.A transferee that becomes a partner with respect to a transferable interest is liable for the obligations of the transferor under sections 45-10.2-47 and 45-10.2-54. However, the transferee is not obligated for liabilities unknown to the transferee at the time the transferee became a partner.","path":["Title 45 Partnerships","Chapter 45-10.2 Uniform Limited Partnership Act"],"source_url":"https://ndlegis.gov/cencode/t45c10-2.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"324534140a1de3e3f2d3dd9128d6375c7c529997ea351d12e601d92fbe8a0ded","source_id":"us-nd","stale":true,"prev":"us-nd/n.d.-cent.-code-45-10.2-62","next":"us-nd/n.d.-cent.-code-45-10.2-64"},"notice":"GroundRules: Original legal text. Not legal advice."}