§ 121-603 — Withdrawal of a limited partner

§ 121-603. Withdrawal of a limited partner. (a) A limited partner may\nwithdraw from a limited partnership at the time or upon the happening of\nevents specified in the partnership agreement and in accordance with the\npartnership agreement. Notwithstanding anything to the contrary under\napplicable law, unless a partnership agreement provides otherwise, a\nlimited partner may not withdraw from a limited partnership prior to the\ndissolution and winding up of the limited partnership. Notwithstanding\nanything to the contrary under applicable law, a partnership agreement\nmay provide that a partnership interest may not be assigned prior to the\ndissolution and winding up of the limited partnership.\n (b) A limited partnership whose original certificate of limited\npartnership was filed with the secretary of state and effective prior to\nthe effective date of this subdivision shall continue to be governed by\nthis section as in effect on such date and shall not be governed by this\nsection, unless otherwise provided in the partnership agreement.\n