48-2a-1104 - Effective date -- Extended effective date -- Applicability of former law.
48-2a-1104. Effective date -- Extended effective date -- Applicability of former law.
Except as set forth below, the effective date of this chapter is July 1, 1990.
(1) The existing provisions for execution and filing of certificates of limited partnershipscontinue in effect with respect to limited partnerships organized prior to the effective date of thischapter until January 1, 1991, the extended effective date, and Sections 48-2a-102, 48-2a-105,48-2a-201, and 48-2a-210 are not effective with respect to such preexisting limited partnershipsuntil January 1, 1991, the extended effective date.
(2) Sections 48-2a-210, 48-2a-901, 48-2a-902, 48-2a-903, 48-2a-904, 48-2a-905,48-2a-906, 48-2a-907, and 48-2a-908, governing the registration of foreign limited partnershipsare not effective until January 1, 1991, the extended effective date.
(3) Sections 48-2a-501, 48-2a-502, and 48-2a-608 apply only to contributions anddistributions made after July 1, 1990, and Subsection 48-2a-102(1)(a) applies only to limitedpartnerships formed or qualified after July 1, 1990.
(4) Section 48-2a-704 applies only to assignments made after July 1, 1990.
(5) Unless otherwise agreed by the partners, the applicable provisions of existing lawgoverning allocation of profits and losses, rather than the provisions of Section 48-2a-503,sharing of distributions, rather than the provisions of Section 48-2a-504, interim distributions,rather than the provisions of Section 48-2a-601, distributions to a withdrawing partner, ratherthan the provisions of Section 48-2a-604, and distributions of assets upon the winding up of alimited partnership, rather than the provisions of Section 48-2a-804, govern limited partnershipsformed before July 1, 1990.
(6) The county clerk in each county in this state shall transmit to the division by January1, 1991, all certificates of limited partnership and certificates of amendment filed with them priorto July 1, 1990, by domestic limited partnerships whose existence has not terminated prior to July1, 1990.
Amended by Chapter 5, 1991 General Session
Amended by Chapter 189, 1991 General Session