02. Partner’s transferable interest in partnership. 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.) Prior Codifications 1981 Ed., § 41-155.2. 2001 Ed., § 33-105.02. Effect of Amendments The 2013 amendment by D.C. Law 19-210 substituted 'is' for the first occurrence of 'shall be.' Editor's Notes 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.
District of Columbia Legal Code