§ 10A-9A-1.09 — Partnership Agreement; Effect on Limited Partnership and Persons Admitted as Partners

Alabama § 10A-9A-1.09

• Jurisdiction: Alabama
• Title 10A: Alabama Business and Nonprofit Entities Code
• Ch. 9A: Alabama Limited Partnership Law
• Art. 1: General Provisions

Text

(a) A limited partnership is bound by and may enforce the partnership agreement, whether or not the limited partnership has itself manifested assent to the partnership agreement.
(b) A person that is admitted as a partner of a limited partnership becomes a party to and assents to the partnership agreement except as provided in Section 10A-9A-7.02(g).
(c) Two or more persons intending to be the initial general partner and the initial limited partner of a limited partnership may make an agreement providing that upon the formation of the limited partnership, the agreement will become the partnership agreement.

Legislative History

(Act 2016-379, p. 934, §1.)