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§ 29–704.01. Becoming general partner.

DC Code § 29–704.01 (2019) (N/A)
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(a) A person becomes a general partner:

(1) Upon formation of a limited partnership, as agreed among the persons that are to be the initial partners; and

(2) After formation:

(A) As provided in the partnership agreement;

(B) Under § 29-708.01(3)(B) following the dissociation of a limited partnership’s last general partner;

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

(D) With the consent of all the partners.

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

(4) With the consent of all the partners.

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

(1) Acquiring a transferable interest; or

(2) Making or being obligated to make a contribution to the 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 added the (a) designation; rewrote (a)(1) and (a)(2); and added (b).

Uniform Law: This section is based on § 401 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.

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§ 29–704.02. General partner agent of limited partnership.