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(2)__The other party does not have notice of the | dissociation and reasonably believes that the person is a | general partner. |
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| | 4.__Release upon agreement with creditor.__By agreement with a | creditor of a limited partnership and the limited partnership, a | person dissociated as a general partner may be released from | liability for an obligation of the limited partnership. |
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| | 5.__Release upon creditor's agreement to material alteration | without consent.__A person dissociated as a general partner is | released from liability for an obligation of the limited | partnership if the limited partnership's creditor, with notice of | the person's dissociation as a general partner but without the | person's consent, agrees to a material alteration in the nature | or time of payment of the obligation. |
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| TRANSFERABLE INTERESTS AND RIGHTS |
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| OF TRANSFEREES AND CREDITORS |
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| §1381.__Partner's transferable interest |
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| | The only interest of a partner that is transferable is the | partner's transferable interest. A transferable interest is | personal property. |
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| §1382.__Transfer of partner's transferable interest |
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| | 1.__Transfer.__A transfer, in whole or in part, of a partner's | transferable interest: |
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| B.__Does not by itself cause the partner's dissociation or a | dissolution and winding up of the limited partnership's | activities; and |
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| C.__Does not, as against the other partners or the limited | partnership, entitle the transferee to participate in the | management or conduct of the limited partnership's | activities, to require access to information concerning the | limited partnership's transactions except as otherwise | provided in subsection 3 or to inspect or copy the required | information or the limited partnership's other records. |
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| | 2.__Transferee's right to receive.__A transferee has a right | to receive, in accordance with the transfer: |
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