§ 29-704.01 — Becoming general partner.

District of Columbia § 29-704.01

• Jurisdiction: District of Columbia
• Title 29: Business Organizations. [Enacted title]
• Ch. 7: Limited Partnerships.
• Subch. IV: General Partners.

Text

(a) A person becomes a general partner:

(1) Upon formation of a limited partnership, as agreed among the persons that are to be the initial partners; and

(2) After formation:

(A) As provided in the partnership agreement;

(B) Under § 29-708.01(3)(B) following the dissociation of a limited partnership’s last general partner;

(C) As the result of a merger under subchapter X of this chapter or a transaction under Chapter 2 of this title ; or

(D) With the consent of all the partners.

(3) As the result of a merger under subchapter X of this chapter or a transaction under Chapter 2 of this title ; or

(4) With the consent of all the partners.

(b) A person may become a general partner without:

(1) Acquiring a transferable interest; or

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

Legislative History

July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(g)(4)(A), 59 DCR 13171