Partnership interest attachment allows recovery by charging a defaulting partner's share, with redemption rights for other partners. Attachment may be made against a defaulter's partnership interest by charging that partner's share in the partnership property and profits towards the amount due under the recovery certificate. The proper officer may appoint a receiver over the partner's share in declared or accruing profits, direct accounts and inquiries, and order sale of the interest or other recovery measures as the circumstances require. Other partners may redeem the charged interest at any time and, if sale is directed, may purchase it.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Partnership interest attachment allows recovery by charging a defaulting partner's share, with redemption rights for other partners.
Attachment may be made against a defaulter's partnership interest by charging that partner's share in the partnership property and profits towards the amount due under the recovery certificate. The proper officer may appoint a receiver over the partner's share in declared or accruing profits, direct accounts and inquiries, and order sale of the interest or other recovery measures as the circumstances require. Other partners may redeem the charged interest at any time and, if sale is directed, may purchase it.
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