§ 121-405 — Classes and voting by general partners

§ 121-405. Classes and voting by general partners. (a) A partnership\nagreement may provide for classes or groups of general 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 general\npartners having such relative rights and powers as may from time to time\nbe established pursuant to the partnership agreement including rights\nand powers senior to existing classes of general partners. The\npartnership agreement may grant to all or to one or more classes of\ngeneral partners the right to vote, on a per capita, class or other\nbasis, upon any matter.\n (b) A partnership agreement may set forth provisions relating to\nnotice of the time, place or purpose of any meeting at which any matter\nis to be voted on by any general partners, waiver of any such notice,\naction by consent without a meeting, the establishment of a record date,\nquorum requirements, voting in person or by proxy, or any other matter\nwith respect to the exercise of any such right to vote.\n