{"data":{"id":"us-ut/utah-code-48-1d-603","jurisdiction":"us-ut","citation":"Utah Code § 48-1d-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 48-1d-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 48-1d-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 48-1d-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 48-1d-502 and 48-1d-505 known to the transferee when the transferee becomes a partner.","path":["Title 48 Unincorporated Business Entity Act","Chapter 48-1d Utah Uniform Partnership Act","Part 48-1d-6 Transferable Interests and Rights of Transferees and Creditors"],"source_url":"https://le.utah.gov/xcode/Title48/Chapter1d/48-1d-S603.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"52cd159ee87fef32699619db0c49342fe3806b089465919ec4d7b3a645310aad","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-48-1d-602","next":"us-ut/utah-code-48-1d-604"},"notice":"GroundRules: Original legal text. Not legal advice."}