Section 10A-9A-4.01 - Admission of general partner(a) Upon formation of a limited partnership, a person is admitted as a general partner as agreed among the persons that are to be the initial partners.(b) After formation of a limited partnership, a person is admitted as a general partner: (1) as provided in the partnership agreement;(2) as the result of a transaction effective under Article 10 of this chapter or Article 8 of Chapter 1;(3) with the consent of all the partners; or(4) as provided in Section 10A-9A-8.01(c) or (e).(c) A person may be admitted as a general partner without:(1) acquiring a transferable interest; or(2) making or being obligated to make a contribution to the partnership.Ala. Code § 10A-9A-4.01 (1975)
Added by Act 2016-379,§ 1, eff. 1/1/2017.