Georgia CommonsTitle 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Chapter 9A. LIMITED PARTNERSHIPS · Article 1. LIMITED PARTNERSHIPS FORMED SINCE FEBRUARY 15, 1952 · Part 1. GENERAL PROVISIONS
14-9A-5. Effect of article on existing partnerships.
Current through: Including Acts of the 2025 Regular Session of the General Assembly.
- (a)
A limited partnership formed under any statute of this state prior to the adoption of this article may become a limited partnership under this article by complying with Code Section 14-9A-20, provided the certificate sets forth:#
- (1)
The amount of the original contribution of each limited partner and the time when the contribution was made; and#
- (2)
That the property of the partnership exceeds the amount sufficient to discharge its liabilities to persons not claiming as general or limited partners by an amount greater than the sum of the contributions of its limited partners.#
- (b)
A limited partnership formed under any statute of this state prior to the adoption of this article, until or unless it becomes a limited partnership under this article, shall continue to be governed by Article 2 of this chapter, except that such partnership shall not be renewed unless so provided in the original agreement.#
History
Ga. L. 1952, p. 375, § 30; Code 1981, § 14-9-5; Code 1981, § 14-9A-5, as redesignated 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, pages 1062 to 1063; merge action: carried; file SHA-256 f2fad2b71b39.
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