Alabama § 10A-8A-4.02 Admission of Partner

Alabama Statutes

§ 10A-8A-4.02 — Admission of Partner

Alabama § 10A-8A-4.02

Title 10AAlabama Business and Nonprofit Entities Code

Ch. 8AAlabama Partnership Law

Art. 4Relations of Partners to Each Other and to Partnership

This text of Alabama § 10A-8A-4.02 (Admission of Partner) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 10A-8A-4.02 (2026).

Text

(a)The initial partners of a partnership are admitted as partners upon the formation of the partnership.

(b)After formation, a person is admitted as a partner of the partnership:

(1)as provided in the partnership agreement;

(2)as the result of a transaction effective under Article 9 of this chapter or Article 8 of Chapter 1;

(3)with the consent of all the partners; or

(4)as provided in Section 10A-8A-8.01(6) or 10A-8A-8.01(7).

(c)Each person to be admitted as a partner to a partnership formed under either Section 10A-8A-2.01(a)(1) or 10A-8A-2.01(a)(2) may be admitted as a partner without:

(1)acquiring a transferable interest; or

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

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(a) The initial partners of a partnership are admitted as partners upon the formation of the partnership.
(b) After formation, a person is admitted as a partner of the partnership:
(1) as provided in the partnership agreement;
(2) as the result of a transaction effective under Article 9 of this chapter or Article 8 of Chapter 1;
(3) with the consent of all the partners; or
(4) as provided in Section 10A-8A-8.01(6) or 10A-8A-8.01(7).
(c) Each person to be admitted as a partner to a partnership formed under either Section 10A-8A-2.01(a)(1) or 10A-8A-2.01(a)(2) may be admitted as a partner without:
(1) acquiring a transferable interest; or
(2) making or being obligated to make a contribution to the partnership.