Official Code of Georgia Annotated

Title 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Chapter 9. REVISED UNIFORM LIMITED PARTNERSHIP ACT · Article 3. LIMITED PARTNERS

14-9-301. Admission of limited partners.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

(a)
Subject to subsection (b) of this Code section, a person may become a limited partner in a limited partnership:#
1. (1)
  In the case of a person acquiring a partnership interest directly from the limited partnership, upon compliance with the partnership agreement or, if the partnership agreement does not so provide in writing, upon the written consent of all partners; and#
2. (2)
  In the case of an assignee of a partnership interest, as provided in Code Section 14-9-704.#
(b)
The effective time of admission of a limited partner to a limited partnership shall be the later of:#
1. (1)
  The date the limited partnership is formed; or#
2. (2)
  The time provided in the partnership agreement, or if no such time is provided therein, then when the person’s admission is reflected in the records of the limited partnership.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 14-9-301, enacted by Ga. L. 1988, p. 1016, § 1.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t14-(v12)-2017-pdf.pdf, Volume V12, 2017 edition, page 1000; merge action: carried; file SHA-256 f2fad2b71b39.

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