Pennsylvania Statutes

§ 8617 — Amendment and effect of partnership agreement

Pennsylvania·Title 15 CORPORATIONS AND UNINCORPORATED ASSOCIATIONS·Part PART III·Ch. 86 LIMITED PARTNERSHIPS·Subch. GENERAL PROVISIONS
(a)Approval of amendments.--A partnership agreement may specify that its amendment requires the approval of a person that is not a party to the agreement or the satisfaction of a condition. An amendment is ineffective if its adoption does not include the required approval or satisfy the specified condition.
(b)Obligations to nonpartners.--The obligations of a limited partnership and its partners to a person in the person's capacity as a transferee or person dissociated as a partner are governed by the partnership agreement. Except as provided in section 8653(d) (relating to sharing of and right to distributions before dissolution) or in a court order issued under section 8673(b)(2) (relating to charging order) to effectuate a charging order, an amendment to the partnership agreement mad

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Legislative History

Cross References.Section 8617 is referred to in section 8615 of this title.

Nearby Sections

15
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