District Of Columbia § 29-707.02 - Transfer of partner’s transferable interest.
Full text of District Of Columbia D.C. Code § 29-707.02 — Transfer of partner’s transferable interest., with citation guidance and answers to common questions.
§ 29-707.02. Transfer of partner’s transferable interest.
29-707.02A transfer, in whole or in part, of a partner’s transferable interest:
Is permissible;
Shall not by itself cause the partner’s dissociation or a dissolution and winding up of the limited partnership’s activities and affairs; and
Shall not, as against the other partners or the limited partnership, entitle the transferee to participate in the management or conduct of the limited partnership’s activities and affairs, to require access to information concerning the limited partnership’s transactions except as otherwise provided in subsection (c) of this section, or to inspect or copy the required information or the limited partnership’s other records.
A transferee shall have a right to receive, in accordance with the transfer:
Distributions to which the transferor would otherwise be entitled; and
Upon the dissolution and winding up of the limited partnership’s activities and affairs, the net amount otherwise distributable to the transferor.
In a dissolution and winding up, a transferee shall be entitled to an account of the limited partnership’s transactions only from the date of dissolution.
Upon transfer, the transferor retain the rights of a partner other than the interest in distributions transferred and shall retain all duties and obligations of a partner.
A limited partnership need not give effect to a transferee’s rights under this section until the limited partnership has notice of the transfer.
A transfer of a partner’s transferable interest in the limited partnership in violation of a restriction on transfer contained in the partnership agreement shall be ineffective as to a person having notice of the restriction at the time of transfer.
A transferee that becomes a partner with respect to a transferable interest shall be liable for the transferor’s obligations under §§ and . However, the transferee shall not be obligated for liabilities unknown to the transferee at the time the transferee became a partner.
A transferable interest may be evidenced by a certificate of the interest issued by a limited partnership in a record, and, subject to this section, the interest represented by the certificate may be transferred by a transfer of the certificate.
Annotations
Application of Law 19-210: Section 7 of provided that the act shall apply as of January 1, 2012.
Uniform Law: This section is based on § 702 of the Uniform Limited Partnership Act (2001 Act).
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 29-707.02
What does D.C. Code § 29-707.02 cover?
Section 29-707.02 ("Transfer of partner’s transferable interest.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite District Of Columbia § 29-707.02?
A common citation format is "D.C. Code § 29-707.02" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 29-707.02 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.