30-24-301. BECOMING LIMITED PARTNER. (a) Upon formation of a limited partnership, a person becomes a limited partner as agreed among the persons that are to be the initial partners.
(b) After formation, a person becomes a limited partner:
(1) As provided in the partnership agreement;
(2) As the result of a transaction effective under chapter 22, title 30, Idaho Code;
(3) With the affirmative vote or consent of all the partners; or
(4) As provided in section 30-24-801(a)(4) or (5), Idaho Code.
(c) 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.
History:
[30-24-301, added 2015, ch. 243, sec. 35, p. 847.]
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