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29.
Rights of transferee of a partner's interest.-
(1) A transfer by a partner of his interest
in the firm, either absolute or by mortgage,
or, by the creation by him of a charge on such
interest, does not entitle the transferee, during
the continuance of the firm, to interfere in
the conduct of the business or to require accounts
or to inspect the books of the firm, but entitles
the transferee only to receive the share of
profits of the transferring partner, and the
transferee shall accept the account of profits
agreed to by the partners.
(2) If the firm is dissolved
or if the transferring partner ceases to be
a partner, the transferee is entitled as against
the remaining partners, to receive the share
of the assets of the firm to which the transferring
partner is entitled and, for the purpose of
ascertaining that share, to an account as from
the date of the dissolution.
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