Idaho § 30-24-401 BECOMING GENERAL PARTNER

Idaho Statutes

§ 30-24-401 — BECOMING GENERAL PARTNER

Idaho·Title 30 CORPORATIONS·Part 4 GENERAL PARTNERS·Ch. 24 LIMITED PARTNERSHIPS

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

(b)After formation of a limited partnership, a person becomes a general 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)Under section 30-24-801 (a)(3)(B), Idaho Code, following the dissociation of a limited partnership’s last general partner.

(c)A person may become a general partner without: [(1)]

(a)Acquiring a transferable interest; or [(2)]

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

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(a) Upon formation of a limited partnership, a person becomes a general partner as agreed among the persons that are to be the initial partners.
(b) After formation of a limited partnership, a person becomes a general 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) Under section 30-24-801 (a)(3)(B), Idaho Code, following the dissociation of a limited partnership’s last general partner.
(c) A person may become a general partner without:
[(1)](a) Acquiring a transferable interest; or
[(2)](b) Making or being obligated to make a contribution to the partnership.

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