{"data":{"id":"us-ok/okla.-stat.-tit.-54-54-500-702a","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 54, § 54-500-702A","heading":"Transfer of partner's transferable interest","body":"TRANSFER OF PARTNER’S TRANSFERABLE INTEREST.\n\n(a) A transfer, in whole or in part, of a partner’s\n\ntransferable interest:\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 limited partnership’s activities;\n\nand\n\n(3) does not, as against the other partners or the limited\n\npartnership, entitle the transferee to participate in the management\n\nor conduct of the limited partnership’s activities, to require\n\naccess to information concerning the limited partnership’s\n\ntransactions except as otherwise provided in subsection (c) of this\n\nsection, or to inspect or copy the required information or the\n\nlimited partnership’s other records.\n\n(b) A transferee has a right to receive, in accordance with the\n\ntransfer:\n\n(1) distributions to which the transferor would otherwise be\n\nentitled; and\n\n(2) upon the dissolution and winding up of the limited\n\npartnership’s activities the net amount otherwise distributable to\n\nthe transferor.\n\n(c) In a dissolution and winding up, a transferee is entitled\n\nto an account of the limited partnership’s transactions only from\n\nthe date of dissolution.\n\n(d) Upon transfer, the transferor retains the rights of a\n\npartner other than the interest in distributions transferred and\n\nretains all duties and obligations of a partner.\n\n(e) A limited partnership need not give effect to a\n\ntransferee’s rights under this section until the limited partnership\n\nhas notice of the transfer.\n\n(f) A transfer of a partner’s transferable interest in the\n\nlimited partnership in violation of a restriction on transfer\n\ncontained in the partnership agreement is ineffective as to a person\n\nhaving notice of the restriction at the time of transfer.\n\n(g) A transferee that becomes a partner with respect to a\n\ntransferable interest is liable for the transferor’s obligations\n\nunder Sections 44 and 51 of this act. However, the transferee is\n\nnot obligated for liabilities unknown to the transferee at the time\n\nthe transferee became a partner.","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":"79e26935e116b44808ae6ef500242cfeb0083afd3f197c77a3e6cd065d4a2bd1","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-54-54-500-701a","next":"us-ok/okla.-stat.-tit.-54-54-500-703a"},"notice":"GroundRules: Original legal text. Not legal advice."}