2016 New York Laws
PTR - Partnership
Article 8 - (Partnership) LIMITED PARTNERSHIPS.
108 - Assignment of interest.

  108.  Assignment of interest.   (1) A limited partner's interest is
  assignable.
(2) A substituted limited partner is a  person  admitted  to  all  the
  rights of a limited partner who has died or has assigned his interest in
  a partnership.
(3)  An  assignee,  who does not become a substituted limited partner,
  has no right to require any information or account  of  the  partnership
  transactions or to inspect the partnership books; he is only entitled to
  receive the share of the profits or other compensation by way of income,
  or the return of his contribution, to which his assignor would otherwise
  be entitled.
(4)  An  assignee shall have the right to become a substituted limited
  partner if all the members, except the assignor, consent thereto  or  if
  the  assignor,  being  thereunto empowered by the certificate, gives the
  assignee that right.
(5) An  assignee  becomes  a  substituted  limited  partner  when  the
  certificate  is  appropriately  amended  in  accordance with section one
  hundred and fourteen of this article.
(6) The substituted limited partner has all the rights and powers, and
  is subject to all the restrictions  and  liabilities  of  his  assignor,
  except  those liabilities of which he was ignorant at the time he became
  a  limited  partner  and  which  could  not  be  ascertained  from   the
  certificate.
(7)  The  substitution  of  the assignee as a limited partner does not
  release the assignor from liability to the  partnership  under  sections
  ninety-five and one hundred and six.