Tennessee § 61-3-301 Becoming limited partner

Tennessee Statutes

§ 61-3-301 — Becoming limited partner

Tennessee § 61-3-301

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This text of Tennessee § 61-3-301 (Becoming limited partner) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 61-3-301 (2026).

Text

(a)Upon formation of a limited partnership, a person becomes a limited partner as agreed among the persons that are to be the initial partners.

(b)After formation, a person becomes a limited partner:

(1)As provided in the partnership agreement;

(2)As the result of a transaction effective under part 11 of this chapter;

(3)With the affirmative vote or consent of all the partners; or (4) As provided in § 61-3-801(a)(4) or (a)(5) .

(c)A person may become a limited partner without:

(1)Acquiring a transferable interest; or (2) Making or being obligated to make a contribution to the limited partnership.

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(a) Upon formation of a limited partnership, a person becomes a limited partner as agreed among the persons that are to be the initial partners. (b) After formation, a person becomes a limited partner: (1) As provided in the partnership agreement; (2) As the result of a transaction effective under part 11 of this chapter; (3) With the affirmative vote or consent of all the partners; or (4) As provided in § 61-3-801(a)(4) or (a)(5) . (c) A person may become a limited partner without: (1) Acquiring a transferable interest; or (2) Making or being obligated to make a contribution to the limited partnership.