Becoming partner.
Upon formation of a partnership under § 29-602.02(a), a person becomes a partner. After formation of a partnership, a person becomes a partner: As provided in the partnership agreement; As a result of a transaction effective under Subchapter [subchapter] IX of this chapter or Chapter 2 of this title; or With the consent of all the partners. A person may become a partner without: Acquiring a transferable interest; or Making or being obligated to make a contribution to the partnership. Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012. Uniform Law: This section is based on § 402 of the Uniform Partnership Act (1997 Act). See Vol. 6, Part I , Uniform Laws Annotated, Master Edition.
Annotations
July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720 Mar. 5, 2013, D.C. Law 19-210, § 2(f)(4)(B), (D), 59 DCR 13171 The 2013 amendment by D.C. Law 19-210 rewrote the section, which formerly read: “Distributions in kind. A partner shall have no right to receive, and shall not be required to accept, a distribution in kind.” 2001 Ed., § 33-104.02. 1981 Ed., § 41-154.2. This section is referenced in § 29-601.02.
Sourced from the DC Council Open Law Library (public domain).
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