ADVOKS GLOBAL · KENYA
Limited Liability Partnership Act
15. Partner may assign interest in limited liability partnership.
Edition: 2023-09-15 · In force
15. Partner may assign interest in limited liability partnership.
(1)This section applies to a limited liability partnership unless otherwise provided for in the limited liability partnership agreement.(2)A partner in a limited liability partnership may assign the whole or any part of the partner’s interest in the partnership but only to the extent that the assignee becomes entitled to receive distributions from the partnership that the partner would otherwise have been entitled to receive.(3)An assignment under subsection (2)—(a)terminates the partner’s partnership in the partnership; and(b)entitles the assignee to participate in the management of the limited liability partnership.