Becoming limited partner.
A person becomes a limited partner: Upon formation as provided in the partnership agreement; or After formation, a person becomes a limited partner: As provided in the partnership agreement; As the result of a merger under subchapter X of this chapter or a transaction under Chapter 2 of this title; With the consent of all the partners; or As provided in § 29-708.01(4). A person may become a limited partner without: Acquiring a transferable interest; or Making or being obligated to make a contribution to the limited 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 § 301 of the Uniform Limited Partnership Act (2001 Act).
Annotations
July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720 Mar. 5, 2013, D.C. Law 19-210, § 2(g)(4)(A), 59 DCR 13171 The 2013 amendment by D.C. Law 19-210 rewrote the section. This section is referenced in § 29-701.02.
Sourced from the DC Council Open Law Library (public domain).
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