§ 23-16-7-3 — Withdrawal of limited partner

Indiana § 23-16-7-3

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 16: LIMITED PARTNERSHIPS
• Ch. 7: Distributions and Withdrawals

Text

A limited partner may withdraw from a limited
partnership at the time or upon the happening of events specified in the
partnership agreement and in accordance with the partnership
agreement. If the partnership agreement does not specify in writing:
(1) the time or the events upon the happening of which a limited
partner may withdraw; or
(2) a definite time for the dissolution and winding up of the
limited partnership;
a limited partner may withdraw upon not less than six (6) months prior
written notice to each general partner at the general partner's address
as set forth in the certificate of limited partnership filed in the office of
the secretary of state.

Legislative History

As added by P.L.147-1988, SEC.1.