§ 7-13-42. Rights of assignee to become limited partner. [Repealed effective January 1, 2023.]
(a) An assignee of a partnership interest, including an assignee of a general partner, may become a limited partner if and to the extent that:
(1) The assignor gives the assignee that right in accordance with authority described in the partnership agreement; or
(2) All other partners consent.
(b) An assignee who has become a limited partner has, to the extent assigned, the rights and powers, and is subject to the restrictions and liabilities, of a limited partner under the partnership agreement and this chapter. An assignee who becomes a limited partner also is liable for the obligations of his or her assignor to make and return contributions as provided in this chapter. However, the assignee is not obligated for liabilities unknown to the assignee at the time he or she became a limited partner.
(c) If an assignee of a partnership interest becomes a limited partner, the assignor is not released from his or her liability to the limited partnership under §§ 7-13-14 and 7-13-28.
History of Section.P.L. 1985, ch. 390, § 2; P.L. 1987, ch. 440, § 1.
§ 7-13-42. [Repealed effective January 1, 2023.]
History of Section.P.L. 1985, ch. 390, § 2; P.L. 1987, ch. 440, § 1; repealed by P.L. 2022, ch. 121, § 1, effective January 1, 2023; repealed by P.L. 2022, ch. 122, § 1, effective January 1, 2023.
Structure Rhode Island General Laws
Title 7 - Corporations, Associations and Partnerships
Chapter 7-13 - Limited Partnerships [Repealed effective January 1, 2023.]
Section 7-13-1. - Definitions. [Repealed effective January 1, 2023.]
Section 7-13-2. - Name. [Repealed effective January 1, 2023.]
Section 7-13-3. - Reservation of name. [Repealed effective January 1, 2023.]
Section 7-13-4. - Specified office and agent. [Repealed effective January 1, 2023.]
Section 7-13-5. - Records to be kept. [Repealed effective January 1, 2023.]
Section 7-13-6. - Nature of business. [Repealed effective January 1, 2023.]
Section 7-13-9. - Amendment to certificate. [Repealed effective January 1, 2023.]
Section 7-13-10. - Cancellation of certificate. [Repealed effective January 1, 2023.]
Section 7-13-11. - Execution of certificates. [Repealed effective January 1, 2023.]
Section 7-13-12. - Amendment or cancellation by judicial act. [Repealed effective January 1, 2023.]
Section 7-13-15. - Notice. [Repealed effective January 1, 2023.]
Section 7-13-17. - Admission of limited partners. [Repealed effective January 1, 2023.]
Section 7-13-18. - Voting — Rights of limited partners. [Repealed effective January 1, 2023.]
Section 7-13-19. - Liability to third parties. [Repealed effective January 1, 2023.]
Section 7-13-21. - Information. [Repealed effective January 1, 2023.]
Section 7-13-22. - Admission of additional general partners. [Repealed effective January 1, 2023.]
Section 7-13-23. - Events of withdrawal. [Repealed effective January 1, 2023.]
Section 7-13-24. - General rights, powers, and liabilities. [Repealed effective January 1, 2023.]
Section 7-13-25. - Contributions by general partner. [Repealed effective January 1, 2023.]
Section 7-13-26. - Voting rights of general partners. [Repealed effective January 1, 2023.]
Section 7-13-27. - Form of contribution. [Repealed effective January 1, 2023.]
Section 7-13-28. - Liability for contribution. [Repealed effective January 1, 2023.]
Section 7-13-29. - Sharing of profits and losses. [Repealed effective January 1, 2023.]
Section 7-13-30. - Sharing of distributions. [Repealed effective January 1, 2023.]
Section 7-13-31. - Interim distributions. [Repealed effective January 1, 2023.]
Section 7-13-32. - Withdrawal of general partner. [Repealed effective January 1, 2023.]
Section 7-13-33. - Withdrawal of limited partner. [Repealed effective January 1, 2023.]
Section 7-13-34. - Distribution upon withdrawal. [Repealed effective January 1, 2023.]
Section 7-13-35. - Distribution in kind. [Repealed effective January 1, 2023.]
Section 7-13-36. - Right to distribution. [Repealed effective January 1, 2023.]
Section 7-13-37. - Limitations on distribution. [Repealed effective January 1, 2023.]
Section 7-13-38. - [Repealed.]
Section 7-13-39. - Nature of partnership interest. [Repealed effective January 1, 2023.]
Section 7-13-40. - Assignment of partnership interest. [Repealed effective January 1, 2023.]
Section 7-13-41. - Rights of creditor. [Repealed effective January 1, 2023.]
Section 7-13-44. - Nonjudicial dissolution. [Repealed effective January 1, 2023.]
Section 7-13-45. - Judicial dissolution. [Repealed effective January 1, 2023.]
Section 7-13-46. - Winding up. [Repealed effective January 1, 2023.]
Section 7-13-47. - Distribution of assets. [Repealed effective January 1, 2023.]
Section 7-13-48. - Applicable law. [Repealed effective January 1, 2023.]
Section 7-13-49. - Registration. [Repealed effective January 1, 2023.]
Section 7-13-50. - Issuance of registration. [Repealed effective January 1, 2023.]
Section 7-13-51. - Name of foreign limited partnership. [Repealed effective January 1, 2023.]
Section 7-13-52. - Changes and amendments. [Repealed effective January 1, 2023.]
Section 7-13-53. - Cancellation of registration. [Repealed effective January 1, 2023.]
Section 7-13-56. - Right of action. [Repealed effective January 1, 2023.]
Section 7-13-57. - Proper plaintiff. [Repealed effective January 1, 2023.]
Section 7-13-58. - Pleading. [Repealed effective January 1, 2023.]
Section 7-13-59. - Expenses. [Repealed effective January 1, 2023.]
Section 7-13-60. - Construction and application. [Repealed effective January 1, 2023.]
Section 7-13-61. - Short title. [Repealed effective January 1, 2023.]
Section 7-13-62. - Severability. [Repealed effective January 1, 2023.]
Section 7-13-65. - Effect of repeal of prior acts. [Repealed effective January 1, 2023.]
Section 7-13-66. - Indemnification. [Repealed effective January 1, 2023.]
Section 7-13-67. - Classes and voting. [Repealed effective January 1, 2023.]
Section 7-13-68. - Merger and consolidation. [Repealed effective January 1, 2023.]