South Carolina Statutes
§ 33-42-410 — Admission of additional limited partners.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 42 UNIFORM LIMITED PARTNERSHIP ACT
(a)A person becomes a limited partner on the later of:
(1)the date the original certificate of limited partnership is filed; or (2) the date stated in the records of the limited partnership as the date that person becomes a limited partner.
(b)After the filing of a limited partnership's original certificate of limited partnership, a person may be admitted as an additional limited partner:
(1)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 provide, upon the written consent of all partners; and (2) in the case of an assignee of a partnership interest of a partner who has the power, as provided in SECTION 33-42-1240, to grant the assignee the right t
Free access — add to your briefcase to read the full text and ask questions with AI
South Carolina § 33-42-410 (Admission of additional limited partners.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1984 Act No. 491, SECTION 1; 1985 Act No. 11, SECTIONS 3, 4; 1986 Act No. 533, SECTION 1.
Nearby Sections
15
§ 33-42-10
Short title.§ 33-42-1010
Interim distributions.§ 33-42-1020
Withdrawal of general partner.§ 33-42-1030
Withdrawal of limited partner.§ 33-42-1040
Distribution upon withdrawal.§ 33-42-1050
Distribution in kind.§ 33-42-1060
Right to distribution.§ 33-42-1070
Limitations on distribution.§ 33-42-1080
Liability upon return of contribution.§ 33-42-1210
Nature of partnership interest.§ 33-42-1220
Assignment of partnership interest.§ 33-42-1230
Rights of creditor.§ 33-42-1240
Right of assignee to become limited partner.§ 33-42-1410
Nonjudicial dissolution.