§ 7-13-17 - Admission of limited partners.
SECTION 7-13-17
§ 7-13-17 Admission of limited partners.– (a) A person becomes a limited partner on the later of:
(1) The date the original certificate of limited partnershipis filed; or
(2) The date stated in the records of the limited partnershipas the date that person will become a limited partner.
(b) After the filing of a limited partnership's originalcertificate of limited partnership, a person may be admitted as an additionallimited partner.
(1) In the case of a person acquiring a partnership interestdirectly from the limited partnership, on the compliance with the partnershipagreement, or if the partnership agreement does not so provide, on the writtenconsent of all partners; and
(2) In the case of an assignee of a partnership interest of apartner who has the power, as provided in § 7-13-42, to grant the assigneethe right to become a limited partner, on the exercise of that power andcompliance with any conditions limiting the grant or exercise of the power.