Utah Code 48-2e-701. Nature of transferable interest
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Terms Used In Utah Code 48-2e-701
- Partner: means a limited partner or general partner. See Utah Code 48-2e-102
- Transferable interest: means the right, as initially owned by a person in the person's capacity as a partner, to receive distributions from a limited partnership in accordance with the partnership agreement, whether or not the person remains a partner or continues to own any part of the right. See Utah Code 48-2e-102
The only interest of a partner which is transferable is the partner’s transferable interest. A transferable interest is personal property.
Enacted by Chapter 412, 2013 General Session