{"data":{"id":"us-ut/utah-code-16-18-603","jurisdiction":"us-ut","citation":"Utah Code § 16-18-603","heading":"Transfer of transferable interest.","body":"(1) A transfer, in whole or in part, of a transferable interest:\n(a) is permissible;\n(b) does not by itself cause a person's dissociation or a dissolution and winding up of the partnership's activities and affairs; and\n(c) subject to Section 16-18-605, does not entitle the transferee to:\n(i) participate in the management or conduct of the partnership's activities and affairs; or\n(ii) except as otherwise provided in Subsection (3), have access to records or other information concerning the partnership's activities and affairs.\n(2) A transferee has the right to:\n(a) receive, in accordance with the transfer, distributions to which the transferor would otherwise be entitled; and\n(b) seek under Subsection 16-18-901(5) a judicial determination that it is equitable to wind up the partnership's activities and affairs.\n(3) 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 the last account agreed to by the partners.\n(4) 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(5) 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(6) Except as otherwise provided in Subsection 16-18-701(4)(b), if a partner transfers a transferable interest, the transferor retains the rights of a partner other than the transferable interest transferred and retains all duties and obligations of a partner.\n(7) 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 transferor's obligations under Sections 16-18-502 and 16-18-505 known to the transferee when the transferee becomes a partner.","path":["Title 16 Business Entities","Chapter 16-18 Utah Uniform Partnership Act","Part 16-18-6 Transfer Interests And Rights Of Transferees And Creditors"],"source_url":"https://le.utah.gov/xcode/Title16/Chapter18/16-18-S603.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-10-08T05:55:33Z","sha256":"fb9286bff805cf56dcd761fa8e87eebe84dbff4e6f7b3dfc1adc1b2c15854ba3","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-16-18-602","next":"us-ut/utah-code-16-18-604"},"notice":"GroundRules: Original legal text. Not legal advice."}