Alabama Code (Last Updated: November 28, 2014) |
Title10A ALABAMA BUSINESS AND NONPROFIT ENTITIES CODE. |
Chapter8. GENERAL PARTNERSHIPS. |
Article5. Transferees and Creditors of Partners. |
§10A-8-5.02. Partner's transferable interest in partnership.
Latest version.
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The only transferable interest of a partner in the partnership is the partner's share of the profits and losses of the partnership and the partner's right to receive distributions. The interest is personal property.