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of <h1>Clause 42: Transfer of Partner's Interest in LLP Permitted, No Dissolution or Management Rights for Transferee.</h1> The Limited Liability Partnership Bill, 2008, Chapter VIII, Clause 42, outlines the transferability of a partner's interest in a limited liability partnership. It states that a partner's rights to share in profits, losses, and distributions can be transferred wholly or partially. Such a transfer does not lead to the partner's disassociation or the dissolution of the partnership. Additionally, the transferee does not gain management rights or access to partnership information merely through the transfer of these rights.
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