§ 48-2e-301. Becoming limited partners.

10/1/2026 (1) Upon formation of a limited partnership, a person becomes a limited partner as agreed among the persons that are to be the initial partners. (2) After formation, a person becomes a limited partner: (a) as provided in the partnership agreement; (b) as the result of a transaction effective under Part 11, Merger, Interest Exchange, Conversion, and Domestication; (c) with the affirmative vote or consent of all the partners; or (d) as provided in Subsection 48-2e-801(1)(d) or (1)(e). (3) A person may become a partner without: (a) acquiring a transferable interest; or (b) making or being obligated to make a contribution to the limited partnership.