§ 48-2e-301. Becoming limited partners.

Latest version.

(1)	Upon formation of a limited partnership, a person becomes a limited partner as agreed among the persons that are to be the initial partners.

(2)

After formation, a person becomes a limited partner:

(a)	as provided in the partnership agreement;

(b)	as the result of a transaction effective under Part 11, Merger, Interest Exchange, Conversion, and Domestication;

(c)	with the affirmative vote or consent of all the partners; or

(d)	as provided in Subsection 48-2e-801(1)(d) or (1)(e).

(3)

A person may become a partner without:

(a)	acquiring a transferable interest; or

(b)	making or being obligated to make a contribution to the limited partnership.

Enacted by Chapter 412, 2013 General Session

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');