LegalFix
Sign In

§ 29–703.01. Becoming limited partner.

DC Code § 29–703.01 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(a) A person becomes a limited partner:

(1) Upon formation as provided in the partnership agreement; or

(2) After formation, a person becomes a limited partner:

(A) As provided in the partnership agreement;

(B) As the result of a merger under subchapter X of this chapter or a transaction under Chapter 2 of this title;

(C) With the consent of all the partners; or

(D) As provided in § 29-708.01(4).

(b) A person may become a limited partner without:

(1) Acquiring a transferable interest; or

(2) Making or being obligated to make a contribution to the limited partnership.

(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.)

This section is referenced in § 29-701.02.

The 2013 amendment by D.C. Law 19-210 rewrote the section.

Uniform Law: This section is based on § 301 of the Uniform Limited Partnership Act (2001 Act).

Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.

No previous sections
Next Section
§ 29–703.02. No agency power of limited partner as limited partner.