Current through the 2024 Fourth Special Session
Section 48-2e-401 - Becoming general partner(1) A person becomes a general partner:(a) upon formation of a limited partnership, as agreed among the persons that are to be the initial partners; and(b) after formation:(i) as provided in the partnership agreement;(ii) under Subsection 48-2e-801(1)(c)(ii) following the dissociation of a limited partnership's last general partner;(iii) as the result of a transaction effective under Part 11, Merger, Interest Exchange, Conversion, and Domestication; or(iv) with the affirmative vote or consent of all the partners.(2) A person may become a general partner without:(a) acquiring a transferable interest; or(b) making or being obligated to make a contribution to the limited partnership.Added by Chapter 412, 2013 General Session ,§ 184, eff. 1/1/2014.