Ohio § 1776.49

Full text of Ohio Ohio Revised Code § 1776.49, with citation guidance and answers to common questions.

§ 1776.49.

(A) A transfer, in whole or in part, of a partner's economic interest in the partnership

is permissible and does not by itself cause the partner's dissociation or a dissolution

and winding up of the partnership business.  A transfer does not entitle the transferee, as against the other partners or the

partnership, during the continuance of the partnership, to participate in the management

or conduct of the partnership business, to require access to information concerning

partnership transactions, or to inspect or copy the partnership books or records. (B) A transferee of a partner's economic interest in the partnership has a right: (1) To receive, in accordance with the transfer, distributions to which the transferor

otherwise would be entitled; (2) To receive upon the dissolution and winding up of the partnership business, in accordance

with the transfer, the net amount otherwise distributable to the transferor; (3) To seek under division (F) of section 1776.61 of the Revised Code , a determination by a tribunal that it is equitable to wind up the partnership business. (C) In a dissolution and winding up, a transferee is entitled to an account of partnership

transactions only from the date of the latest account to which all of the partners

agreed. (D) Upon transfer, the transferor retains the rights and duties of a partner other than

the interest in distributions transferred. (E) A partnership need not give effect to a transferee's rights under this section until

it has notice and reasonable proof of the transfer. (F) A transfer of a partner's economic 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. (G) Sections 1309.406 and 1309.408 of the Revised Code do not apply to any partnership interest in a partnership formed under this chapter.

Frequently Asked Questions About Ohio § 1776.49

What does Ohio Revised Code § 1776.49 cover?

Section 1776.49 is part of the Ohio Revised Code, the codified statutory law of Ohio. 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 Ohio § 1776.49?

A common citation format is "Ohio Revised Code § 1776.49" (Ohio). 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 Ohio law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.

How does Ohio § 1776.49 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio 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 Ohio.