{"data":{"id":"us-ut/utah-code-16-19-702","jurisdiction":"us-ut","citation":"Utah Code § 16-19-702","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 the person's dissociation or a dissolution and winding up of the limited partnership's activities and affairs; and\n(c) subject to Section 16-19-704, does not entitle the transferee to:\n(i) participate in the management or conduct of the limited partnership's activities or affairs; or\n(ii) except as otherwise provided in Subsection (3), have access to required information, records, or other information concerning the limited partnership's activities and affairs.\n(2) A transferee has the right to receive, in accordance with the transfer, distributions to which the transferor would otherwise be entitled.\n(3) In a dissolution and winding up of a limited partnership, a transferee is entitled to an account of the limited partnership's transactions only from the date of dissolution.\n(4) A transferable interest may be evidenced by a certificate of the interest issued by a limited partnership in a record, and, subject to this section, the interest represented by the certificate may be transferred by a transfer of the certificate.\n(5) A limited partnership need not give effect to a transferee's rights under this section until the limited partnership knows or has notice of the transfer.\n(6) 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(7) Except as otherwise provided in Subsections 16-19-601(2)(d)(ii) and 16-19-603(4)(b), if a general or limited partner transfers a transferable interest, the transferor retains the rights of a general or limited partner other than the transferable interest transferred and retains all the duties and obligations of a general or limited partner.\n(8) If a general or limited partner transfers a transferable interest to a person that becomes a general or limited partner with respect to the transferred interest, the transferee is liable for the transferor's obligations under Sections 16-19-502 and 16-19-505 known to the transferee when the transferee becomes a partner.","path":["Title 16 Business Entities","Chapter 16-19 Utah Uniform Limited Partnership Act","Part 16-19-7 Transferable Interest And Rights"],"source_url":"https://le.utah.gov/xcode/Title16/Chapter19/16-19-S702.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-10-08T05:55:33Z","sha256":"06008e408a02524428237989003a5bba1fd77ed9c1531ad4e4a64d760d02521f","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-16-19-701","next":"us-ut/utah-code-16-19-703"},"notice":"GroundRules: Original legal text. Not legal advice."}