Georgia § 14-9-704 - Right of assignee to become limited partner.
Full text of Georgia Official Code of Georgia Annotated § 14-9-704 — Right of assignee to become limited partner., with citation guidance and answers to common questions.
§ 14-9-704. Right of assignee to become limited partner.
An assignee of a partnership interest, including an assignee of a general partner, may become a limited partner if and to the extent that: The partnership agreement so provides; or All other partners consent. An assignee who has become a limited partner has, to the extent assigned, the rights and powers and is subject to the restrictions and liabilities of a limited partner under the partnership agreement and this chapter. An assignee who becomes a limited partner also is liable for the obligations of his assignor to make contributions as provided in Code Section 14-9-502. However, unless otherwise agreed between the assignee and the assignor, such assignee is not obligated for liabilities unknown to the assignee at the time he became a limited partner and which could not be ascertained from the written partnership agreement. Subject to contrary provision in the partnership agreement, if an assignee of a partnership interest becomes a limited partner, the assignor is not released from his liability to the limited partnership under Code Section 14-9-502 . (Code 1981, § 14-9-704 , enacted by Ga. L. 1988, p. 1016, § 1.)
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 14-9-704
What does Official Code of Georgia Annotated § 14-9-704 cover?
Section 14-9-704 ("Right of assignee to become limited partner.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. 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 Georgia § 14-9-704?
A common citation format is "Official Code of Georgia Annotated § 14-9-704" (Georgia). 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 Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 14-9-704 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia 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 Georgia.