Becoming general partner.
A person becomes a general partner: Upon formation of a limited partnership, as agreed among the persons that are to be the initial partners; and After formation: As provided in the partnership agreement; Under § 29-708.01(3)(B) following the dissociation of a limited partnership’s last general partner; As the result of a merger under subchapter X of this chapter or a transaction under Chapter 2 of this title; or With the consent of all the partners. As the result of a merger under subchapter X of this chapter or a transaction under Chapter 2 of this title; or With the consent of all the partners. A person may become a general 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 § 401 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 added the (a) designation; rewrote (a)(1) and (a)(2); and added (b). This section is referenced in § 29-701.02.
Sourced from the DC Council Open Law Library (public domain).
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