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D.C. Code § 29-703.01

Becoming limited partner

Known as the Uniform Limited Partnership Act

The act spans §§ 29–29 (80 sections).

July 2, 2011, D.C

(a) A person becomes a limited partner:

(1) Upon formation as provided in the partnership agreement; or

(2) After formation, a person becomes a limited partner:

(A) As provided in the partnership agreement;

(B) As the result of a merger under subchapter X of this chapter or a transaction under Chapter 2 of this title;

(C) With the consent of all the partners; or

(D) As provided in § 29-708.01(4).

(b) A person may become a limited partner without:

(1) Acquiring a transferable interest; or

(2) Making or being obligated to make a contribution to the limited partnership.

Official source: D.C. Law Library (Council of the District of Columbia). Reproduced from public-domain District of Columbia statutes; confirm against the official source for the current text. Not legal advice.