§ 7-13-67 - Classes and voting.
SECTION 7-13-67
§ 7-13-67 Classes and voting. – (a) A partnership agreement may provide for classes or groups of limitedpartners having any relative rights, powers and duties that the partnershipagreement provides, and may make provision for the future creation in themanner provided in the partnership agreement of additional classes or groups oflimited partners having any relative rights, powers and duties that may fromtime to time be established, including rights, powers and duties senior toexisting classes and groups of limited partners.
(2) A partnership agreement may provide for the taking of anaction, including the amendment of the partnership agreement, without the voteor approval of any limited partner or class or group of limited partners,including an action to create under the provisions of the partnership agreementa class or group of partnership interests that was not previously outstanding.
(b) Subject to § 7-13-19 the partnership agreement maygrant to all or certain identified limited partners or a specified class orgroup of the limited partners the right to vote separately or with all or anyclass or group of the limited partners or the general partners, on any matter.Voting by limited partners may be on a per capita, number, financial interest,class, group or any other basis.
(c) A partnership agreement which grants a right to vote mayset forth provisions relating to notice of the time, place or purpose of anymeeting at which any matter is to be voted on by any limited partners, waiverof any such notice, action by consent without a meeting, the establishment of arecord date, quorum requirements, voting in person or by proxy, or any othermatter as to the exercise of the right to vote.
(d) Any right or power, including voting rights, granted tolimited partners as permitted under § 7-13-19 of this title is deemed tobe permitted by this section.