Full text of Utah Utah Code § 1d-603 — Transfer of transferable interest. (Renumbered 10/1/2026), with citation guidance and answers to common questions.
§ 1d-603. Transfer of transferable interest. (Renumbered 10/1/2026)
Renumbered 10/1/2026
48-1d-603.
Transfer of transferable interest.
| (1) |
A transfer, in whole or in part, of a transferable interest:
| (b) |
does not by itself cause a person's dissociation or a dissolution and winding up of the partnership's activities and affairs; and |
| (c) |
subject to Section 48-1d-605, does not entitle the transferee to:
| (i) |
participate in the management or conduct of the partnership's activities and affairs; or |
| (ii) |
except as otherwise provided in Subsection (3), have access to records or other information concerning the partnership's activities and affairs. |
|
|
| (2) |
A transferee has the right to:
| (a) |
receive, in accordance with the transfer, distributions to which the transferor would otherwise be entitled; and |
| (b) |
seek under Subsection 48-1d-901(5) a judicial determination that it is equitable to wind up the partnership's activities and affairs. |
|
| (3) |
In a dissolution and winding up of a partnership, a transferee is entitled to an account of the partnership's transactions only from the date of the last account agreed to by the partners. |
| (4) |
A partnership need not give effect to a transferee's rights under this section until the partnership knows or has notice of the transfer. |
| (5) |
A transfer of a transferable interest in violation of a restriction on transfer contained in the partnership agreement is ineffective as to a person having knowledge or notice of the restriction at the time of transfer. |
| (6) |
Except as otherwise provided in Subsection 48-1d-701(4)(b), if a partner transfers a transferable interest, the transferor retains the rights of a partner other than the transferable interest transferred and retains all duties and obligations of a partner. |
| (7) |
If a partner transfers a transferable interest to a person that becomes a partner with respect to the transferred interest, the transferee is liable for the transferor's obligations under Sections 48-1d-502 and 48-1d-505 known to the transferee when the transferee becomes a partner. |
Renumbered and Amended by Chapter
93, 2026 General Session
Enacted by Chapter
412, 2013 General Session
Frequently Asked Questions About Utah § 1d-603
What does Utah Code § 1d-603 cover?
Section 1d-603 ("Transfer of transferable interest. (Renumbered 10/1/2026)") is part of the Utah Code, the codified statutory law of Utah. 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 Utah § 1d-603?
A common citation format is "Utah Code § 1d-603" (Utah). 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 Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 1d-603 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
