Tennessee § 61-2-704 - Rights of assignee — Liabilities.
Full text of Tennessee Tennessee Code Annotated § 61-2-704 — Rights of assignee — Liabilities., with citation guidance and answers to common questions.
§ 61-2-704. Rights of assignee — Liabilities.
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 partners consent. An assignee who has become a limited partner has the rights and powers, and is subject to the restrictions and liabilities, of his assignor under the partnership agreement and this chapter. Notwithstanding the foregoing, unless otherwise provided in the partnership agreement, an assignee who becomes a limited partner is liable for the obligations of his assignor to make contributions as provided in § 61-2-502, but shall not be liable for the obligations of his assignor under part 6 of this chapter. However, the assignee is not obligated for liabilities, including the obligations of his assignor to make contributions as provided in § 61-2-502, unknown to the assignee at the time he became a limited partner and the possibility of which could not be ascertained from the partnership agreement. Whether or not an assignee of a partnership interest becomes a limited partner, the assignor is not released from his liability to the limited partnership under parts 5 and 6 of this chapter. Acts 1988, ch. 922, § 1; 1989, ch. 270, §§ 61, 62. Law Reviews. The Tennessee Revised Uniform Limited Partnership Act (Glenn Stophel and James C. Heartfield), 26 No. 5 Tenn. B.J. 22 (1990).
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 61-2-704
What does Tennessee Code Annotated § 61-2-704 cover?
Section 61-2-704 ("Rights of assignee — Liabilities.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. 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 Tennessee § 61-2-704?
A common citation format is "Tennessee Code Annotated § 61-2-704" (Tennessee). 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 Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 61-2-704 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee 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 Tennessee.