Guam § 27401 - Assignment of Limited Partner's Interest.

§ 27401. Assignment of Limited Partner's Interest.

(1) A limited partner's interest is assignable.

(2) A substituted limited partner is a person admitted to all the rights of

a limited partner who has died or has assigned his interest in a partnership.

(3) An assignee, who does not become a substituted limited partner,

has no right to require any information or account of the partnership

transactions or to inspect the partnership books; he is only entitled to

receive the share of the profits or other compensation by way of income, or

the return of his contributions, to which his assignor would otherwise be

entitled.

(4) An assignee shall have the right to become a substituted limited

partner if all the members (except the assignor) consent thereto or if the

assignor, being thereunto empowered by the certificate, gives the assignee

that right.

(5) An assignee becomes a substituted limited partner when the

certificate is appropriately amended in accordance with § 27406.

(6) The substituted limited partner has all the rights and powers, and is

subject to all the restrictions and liabilities of the assignor, except those

liabilities of which he was ignorant at the time he became a limited partner

and which could not be ascertained from the certificate.

(7) The substitution of the assignee as a limited partner does not release

the assignor from liability to the partnership under '§ 27304 and 27315.