LD 1609
pg. 22
Page 21 of 146 PUBLIC Law Chapter 543 Page 23 of 146
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LR 1469
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3.__Account of transaction to transferee.__In a dissolution
and winding up, a transferee is entitled to an account of
partnership transactions only from the date of the latest account
agreed to by all of the partners.

 
4.__Rights and duties retained.__Upon transfer, the transferor
retains the rights and duties of a partner other than the
interest in distributions transferred.

 
5.__Effect to transferee's rights; notice.__A partnership need
not give effect to a transferee's rights under this section until
the partnership has notice of the transfer.

 
6.__Transfer in violations.__A transfer of a partner's
transferable interest in the partnership in violation of a
restriction on transfer contained in the partnership agreement is
ineffective as to a person having notice of the restriction at
the time of transfer.

 
§1054.__Partner's transferable interest subject to charging order

 
1.__Charging order; interest of judgment debtor.__On
application by a judgment creditor of a partner or of a partner's
transferee, a court having jurisdiction may charge the
transferable interest of the judgment debtor to satisfy the
judgment.__The court may appoint a receiver of the share of the
distributions due or to become due to the judgment debtor in
respect of the partnership and make all other orders, directions,
accounts and inquiries the judgment debtor might have made or
that the circumstances of the case may require.

 
2.__Charging order; lien.__A charging order constitutes a lien
on the judgment debtor's transferable interest in the
partnership.__The court may order a foreclosure of the interest
subject to the charging order at any time.__The purchaser at the
foreclosure sale has the rights of a transferee.

 
3.__Redemption of charged interest.__At any time before
foreclosure, an interest charged may be redeemed:

 
A.__By the judgment debtor;

 
B.__With property other than partnership property, by one or
more of the other partners; or

 
C.__With partnership property, by one or more of the other
partners with the consent of all of the partners whose
interests are not so charged.


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