Utah Code § 48-1d-401

Current through the 2024 Fourth Special Session
Section 48-1d-401 - Becoming partner
(1) Upon formation of a partnership, a person becomes a partner under Subsection 48-1d-202(1).
(2) After formation of a partnership, a person becomes a partner:
(a) as provided in the partnership agreement;
(b) as a result of a transaction effective under Part 10, Merger, Interest Exchange, Conversion, and Domestication; or
(c) with the consent of all the partners.
(3) A person may become a partner without either:
(a) acquiring a transferable interest; or
(b) making or being obligated to make a contribution to the partnership.

Utah Code § 48-1d-401

Added by Chapter 412, 2013 General Session ,§ 43, eff. 1/1/2014.