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Tenn. Code Ann. § 61-3-301

Becoming limited partner

Known as the Tennessee Uniform Limited Partnership Act

The act spans §§ 61-2-1001 to 61-3-906 (205 sections).

Acts 2017, ch. 440, § 1.

(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 part 11 of this chapter;

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

(5) As provided in § 61-3-801(a)(4) or (a)(5).

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