Nevada § 88.420 When person becomes limited partner; admission of additional limited partners

Nevada Statutes

§ 88.420 — When person becomes limited partner; admission of additional limited partners

Nevada·Title 7 BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES·Ch. 88 Uniform· LIMITED PARTNERS

1. A person becomes a limited partner:

(a)At the time the limited partnership is formed; or

(b)At any later time stated in the records of the limited partnership for becoming a limited partner. 2. After the filing of a limited partnership’s original certificate of limited partnership, a person may be admitted as an additional limited partner:

(a)In the case of a person acquiring a partnership interest directly from the limited partnership, upon the compliance with the partnership agreement or, if the partnership agreement does not so provide, upon the written consent of all partners; and

(b)In the case of an assignee of a partnership interest of a partner who has the power, as provided in NRS 88.540 , to grant the assignee the right to become a limited partner, upon the exercise of tha

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1. A person becomes a limited partner:
(a) At the time the limited partnership is formed; or
(b) At any later time stated in the records of the limited partnership for becoming a limited partner.
2. After the filing of a limited partnership’s original certificate of limited partnership, a person may be admitted as an additional limited partner:
(a) In the case of a person acquiring a partnership interest directly from the limited partnership, upon the compliance with the partnership agreement or, if the partnership agreement does not so provide, upon the written consent of all partners; and
(b) In the case of an assignee of a partnership interest of a partner who has the power, as provided in NRS 88.540 , to grant the assignee the right to become a limited partner, upon the exercise of that power and compliance with any conditions limiting the grant or exercise of the power.

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