53-2-1110 — RESTRICTIONS ON APPROVAL OF CONVERSIONS AND MERGERS AND ON RELINQUISHING LLLP STATUS
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TITLE 53
PARTNERSHIP
CHAPTER 2
UNIFORM LIMITED PARTNERSHIP ACT
PART 11
CONVERSION AND MERGER
53-2-1110. RESTRICTIONS ON APPROVAL OF CONVERSIONS AND MERGERS AND ON
RELINQUISHING LLLP STATUS. (1) If a partner of a converting or constituent
limited partnership will have personal liability with respect to a converted
or surviving organization, approval and amendment of a plan of conversion or
merger are ineffective without the consent of the partner, unless:
(a) The limited partnership's partnership agreement provides for the
approval of the conversion or merger with the consent of fewer than all
the partners; and
(b) The partner has consented to the provision of the partnership
agreement.
(2) An amendment to a certificate of limited partnership which deletes a
statement that the limited partnership is a limited liability limited
partnership is ineffective without the consent of each general partner unless:
(a) The limited partnership's partnership agreement provides for the
amendment with the consent of less than all the general partners; and
(b) Each general partner that does not consent to the amendment has
consented to the provision of the partnership agreement.
(3) A partner does not give the consent required by subsection (1) or (2)
of this section merely by consenting to a provision of the partnership
agreement which permits the partnership agreement to be amended with the
consent of fewer than all the partners.