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Idaho Code § 30-24-301

Becoming limited partner

Known as the Idaho Uniform Limited Partnership Act

The act spans §§ 30–30 (65 sections).

I.C., § 30-24 -301, as added by 2015, ch. 243, § 35, p. 758.

(1) Upon formation of a limited partnership, a person becomes a limited partner as agreed among the persons that are to be the initial partners.

(2) After formation, a person becomes a limited partner: As provided in the partnership agreement;

(3) As the result of a transaction effective under chapter 22, title 30, Idaho Code;

(4) With the affirmative vote or consent of all the partners; or

(5) As provided in section 30-24-801(a)(4) or (5), Idaho Code.

(6) A person may become a limited partner without: Acquiring a transferable interest; or

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

Current official text: Idaho Statutes (Idaho Legislature). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Idaho statutes; confirm against the official source for the current text. Not legal advice.