Tennessee § 61-3-501 Form of contribution and acceptance

Tennessee Statutes

§ 61-3-501 — Form of contribution and acceptance

Tennessee § 61-3-501

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This text of Tennessee § 61-3-501 (Form of contribution and acceptance) 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. § 61-3-501 (2026).

Text

(a)A contribution may consist of property transferred to, services performed for, or another benefit provided to the limited partnership or an agreement to transfer property to, perform services for, or provide another benefit to the partnership.

(b)Neither a purported contribution nor an offer of consideration to make a contribution must be treated as a contribution to a limited partnership until:

(1)The contribution is accepted by the affirmative vote or consent of all general partners; and (2) The amount and value of the contribution are recorded in the required information of the limited partnership.

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(a) A contribution may consist of property transferred to, services performed for, or another benefit provided to the limited partnership or an agreement to transfer property to, perform services for, or provide another benefit to the partnership. (b) Neither a purported contribution nor an offer of consideration to make a contribution must be treated as a contribution to a limited partnership until: (1) The contribution is accepted by the affirmative vote or consent of all general partners; and (2) The amount and value of the contribution are recorded in the required information of the limited partnership.