Idaho § 30-24-301 BECOMING LIMITED PARTNER

Idaho Statutes

§ 30-24-301 — BECOMING LIMITED PARTNER

Idaho·Title 30 CORPORATIONS·Part 3 LIMITED PARTNERS·Ch. 24 LIMITED PARTNERSHIPS

(a)Upon formation of a limited partnership, a person becomes a limited partner as agreed among the persons that are to be the initial partners.

(b)After formation, a person becomes a limited partner:

(1)As provided in the partnership agreement;

(2)As the result of a transaction effective under chapter 22, title 30, Idaho Code;

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

(4)As provided in section 30-24-801 (a)(4) or (5), Idaho Code.

(c)A person may become a limited partner without:

(1)Acquiring a transferable interest; or

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

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(a) Upon formation of a limited partnership, a person becomes a limited partner as agreed among the persons that are to be the initial partners.
(b) After formation, a person becomes a limited partner:
(1) As provided in the partnership agreement;
(2) As the result of a transaction effective under chapter 22, title 30, Idaho Code;
(3) With the affirmative vote or consent of all the partners; or
(4) As provided in section 30-24-801 (a)(4) or (5), Idaho Code.
(c) A person may become a limited partner without:
(1) Acquiring a transferable interest; or
(2) Making or being obligated to make a contribution to the limited partnership.

Idaho § 30-24-301 (BECOMING LIMITED PARTNER) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.