2005 Connecticut Code - Sec. 34-27. Assignment of partnership interest. Nature of assignee\'s interest. Evidence of partner\'s interest.

      Sec. 34-27. Assignment of partnership interest. Nature of assignee's interest. Evidence of partner's interest. (a) Except as provided in the partnership agreement, a partnership interest is assignable in whole or in part. An assignment of a partnership interest does not dissolve a limited partnership or entitle the assignee to become or to exercise any rights of a partner. An assignment entitles the assignee to receive, to the extent assigned, only the distribution to which the assignor would be entitled. Except as provided in the partnership agreement, a partner ceases to be a partner upon assignment of all his partnership interest.

      (b) The partnership agreement may provide that a partner's interest in a limited partnership may be evidenced by a certificate of partnership interest issued by the limited partnership and may also provide for the assignment or transfer of any partnership interest represented by such a certificate and make other provisions with respect to such certificates.

      (1961, P.A. 79, S. 19; P.A. 79-440, S. 39; P.A. 93-363, S. 21.)

      History: P.A. 79-440 replaced previous provisions which had detailed rights and obligations of substituted limited partners and assignees; P.A. 93-363 added Subsec. (b) re provision by partnership agreement concerning evidence of partner's interest and assignment or transfer of partnership interest by certificate of partnership.

      A partner may assign his right to the distribution of profits from the partnership without the consent of the other partners. 1 CA 656, 667. Cited. 11 CA 404, 414. Cited. 35 CA 81, 88.