Nevada Revised Statutes 88.530 – Assignments
Current as of: 2023 | Check for updates
|
Other versions
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 the partnership interest of the partner.
Terms Used In Nevada Revised Statutes 88.530
- Partner: means a limited or general partner. See Nevada Revised Statutes 88.315
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership agreement: means any valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business. See Nevada Revised Statutes 88.315
- Partnership interest: means a partner"s share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets. See Nevada Revised Statutes 88.315