Except as otherwise provided in subchapter IX of this chapter or Chapter 2 of this title, the only transferable interest of a partner in the partnership is the partner’s share of the profits and losses of the partnership and the partner’s right to receive distributions. The interest of a partner, whether or not transferable, shall be personal property.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(f)(5)(A), 59 DCR 13171.)
1981 Ed., § 41-155.2.
2001 Ed., § 33-105.02.
The 2013 amendment by D.C. Law 19-210 substituted “is” for the first occurrence of “shall be.”
Uniform Law: This section is based on § 502 of the Uniform Partnership Act (1997 Act).
Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.
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