§ 121-302 — Classes and voting by limited partners

§ 121-302. Classes and voting by limited partners. (a) A partnership\nagreement may provide for classes or groups of limited partners having\nsuch relative rights and powers as the partnership agreement may\nprovide, and may make provision for the future creation in the manner\nprovided in the partnership agreement of additional classes of limited\npartners having such relative rights and powers as may from time to time\nbe established pursuant to the partnership agreement including rights\nand duties senior to existing classes of limited partners. The\npartnership agreement may grant to or withhold from all or one or more\nclasses of limited partners the right to vote, on a per capita, class or\nother basis, upon any matter.\n (b) A partnership agreement which grants a right to vote may set forth\nprovisions relating to notice of the time, place or purpose of any\nmeeting at which any matter is to be voted on by any limited partners,\nwaiver of any such notice, action by consent without a meeting, the\nestablishment of a record date, quorum requirements, voting in person or\nby proxy, or any other matter with respect to the exercise of any such\nright to vote.\n