Citation: Stat. - Cal. Corp. Code § 16503

16503.

(a) A transfer, in whole or in part, of a partner's
transferable interest in the partnership is permissible. However, a
transfer does not do either of the following:

(1) By itself cause the partner's dissociation or a dissolution
and winding up of the partnership business.

(2) As against the other partners or the partnership, entitle the
transferee, during the continuance of the partnership, to participate
in the management or conduct of the partnership business, to require
access to information concerning partnership transactions, or to
inspect or copy the partnership books or records.

(b) A transferee of a partner's transferable interest in the
partnership has a right to all of the following:

(1) To receive, in accordance with the transfer, distributions to
which the transferor would otherwise be entitled.

(2) To receive upon the dissolution and winding up of the
partnership business, in accordance with the transfer, the net amount
otherwise distributable to the transferor.

(3) To seek under paragraph (6) of Section 16801 a judicial
determination that it is equitable to wind up the partnership
business.

(c) In a dissolution and winding up, a transferee is entitled to
an account of partnership transactions only from the date of the
latest account agreed to by all of the partners.

(d) Upon transfer, the transferor retains the rights and duties of
a partner other than the interest in distributions transferred.

(e) A partnership need not give effect to a transferee's rights
under this section until it has notice of the transfer.

(f) A transfer of a partner's transferable interest in the
partnership in violation of a restriction on transfer contained in
the partnership agreement is ineffective as to a person having notice
of the restriction at the time of transfer.