{"data":{"id":"us-ok/okla.-stat.-tit.-54-54-1-503","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 54, § 54-1-503","heading":"Transfer of Partner's Transferable Interest","body":"Transfer of Partner's Transferable Interest. (a) A transfer,\n\nin whole or in part, of a partner's transferable interest in the\n\npartnership:\n\n(1) is permissible;\n\n(2) does not by itself cause the partner's dissociation or a\n\ndissolution and winding up of the partnership business; and\n\n(3) does not, as against the other partners or the partnership,\n\nentitle the transferee, during the continuance of the partnership,\n\nto participate in the management or conduct of the partnership\n\nbusiness, to require access to information concerning partnership\n\ntransactions, or to inspect or copy the partnership books or\n\nrecords.\n\n(b) A transferee of a partner's transferable interest in the\n\npartnership has a right:\n\n(1) to receive, in accordance with the transfer, distributions\n\nto which the transferor would otherwise be entitled;\n\n(2) to receive upon the dissolution and winding up of the\n\npartnership business, in accordance with the transfer, the net\n\namount otherwise distributable to the transferor; and\n\n(3) to seek under paragraph (6) of Section 40 of this act a\n\njudicial determination that it is equitable to wind up the\n\npartnership business.\n\n(c) In a dissolution and winding up, a transferee is entitled\n\nto an account of partnership transactions only from the date of the\n\nlatest account agreed to by all of the partners.\n\n(d) Upon transfer, the transferor retains the rights and duties\n\nof a partner other than the interest in distributions transferred.\n\n(e) A partnership need not give effect to a transferee's rights\n\nunder this section until it has notice of the transfer.\n\n(f) A transfer of a partner's transferable interest in the\n\npartnership in violation of a restriction on transfer contained in\n\nthe partnership agreement is ineffective as to a person having\n\nnotice of the restriction at the time of transfer.","path":["OK Code","Title 54"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os54.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"74b8f42417f1616791698a789b174a09fd6a5a8acf399b853ad7e84a3597ecfe","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-54-54-1-502","next":"us-ok/okla.-stat.-tit.-54-54-1-504"},"notice":"GroundRules: Original legal text. Not legal advice."}