Current through the 2024 Regular Session
Section 30-24-401 - BECOMING GENERAL PARTNER(a) Upon formation of a limited partnership, a person becomes a general partner as agreed among the persons that are to be the initial partners.(b) After formation of a limited partnership, a person becomes a general 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) Under section 30-24-801(a)(3)(B), Idaho Code, following the dissociation of a limited partnership's last general partner.(c) A person may become a general partner without:(a)[(1)] Acquiring a transferable interest; or(b)[(2)] Making or being obligated to make a contribution to the partnership.[30-24-401, added 2015, ch. 243, sec. 36, p. 850.]Added by 2015 Session Laws, ch. 243,sec. 36, eff. 7/1/2015.