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New York Partnership Law Section 53 - Assignment Of Partner's Interest.Legal Research Home > New York Lawyer > Partnership > New York Partnership Law Section 53 - Assignment Of Partner's Interest.
§ 53. Assignment of partner's interest. 1. A conveyance by a partner
of his interest in the partnership does not of itself dissolve the
partnership, nor, as against the other partners in the absence of
agreement, entitle the assignee, during the continuance of the
partnership, to interfere in the management or administration of the
partnership business or affairs, or to require any information or
account of partnership transactions, or to inspect the partnership
books; but it merely entitles the assignee to receive in accordance with
his contract the profits to which the assigning partner would otherwise
be entitled.
2. In case of a dissolution of the partnership, the assignee is
entitled to receive his assignor's interest and may require an account
from the date only of the last account agreed to by all the partners.
Last modified: August 9, 2006 |