New Jersey § 42:3-11
Full text of New Jersey New Jersey Statutes § 42:3-11, with citation guidance and answers to common questions.
§ 42:3-11.
Interests in a limited partnership association shall be personal estate, and may be
transferred under such rules and regulations as the association may prescribe. No transferee of any interest, or the representative of any decedent member or of
any insolvent member shall be entitled thereafter to any participation in the subsequent
business of the association, unless he be elected thereto by a vote of the majority
of the members in number and value of their interests. Any change of ownership in the property of the association, whether by sale, death,
bankruptcy or otherwise, which shall not be followed by election to the association,
shall entitle the owner only to his interest in the association at a price and upon
terms to be mutually agreed upon, and in default of such agreement the price and terms
shall be fixed by an appraiser appointed by the Superior Court subject to the approval
of the court.
Frequently Asked Questions About New Jersey § 42:3-11
What does New Jersey Statutes § 42:3-11 cover?
Section 42:3-11 is part of the New Jersey Statutes, the codified statutory law of New Jersey. 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 New Jersey § 42:3-11?
A common citation format is "New Jersey Statutes § 42:3-11" (New Jersey). 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 New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 42:3-11 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey 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 New Jersey.