RSA 304-B:17 · Admission of Limited Partners

304-B:17 Admission of Limited Partners. –

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I.

A person becomes a limited partner:

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(a)

At the time the limited partnership is formed; or

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(b)

At any later time specified in the records of the limited partnership for becoming a limited partner.

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II.

After the filing of a limited partnership's original certificate of limited partnership, a person may be admitted as an additional limited partner:

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(a)

In the case of a person acquiring a partnership interest directly from the limited partnership, upon the compliance with the partnership agreement or, if the partnership agreement does not so provide, upon the written consent of all partners; and

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(b)

In the case of an assignee of a partnership interest of a partner who has the power, as provided in RSA 304-B:42, to grant the assignee the right to become a limited partner, upon the exercise of that power and compliance with any conditions limiting the grant or exercise of the power. Source. 1987, 349:1, eff. Jan. 1, 1988.

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