US Laws, Codes, Statutes & Cases

    I. A limited partner is entitled to dissent from, and obtain payment of, the fair value of the limited partner's partnership interest upon either of the following actions:
       (a) Consummation of a plan of merger to which the limited partnership is a party.
       (b) Consummation of a plan of conversion of the limited partnership to some other business entity.
    II. A limited partner entitled to dissent and obtain payment for such limited partner's partnership interest under this subdivision may not challenge the limited partnership action creating such limited partner's entitlement unless the action is unlawful or fraudulent with respect to the limited partner or the limited partnership.

Source. 1997, 120:14, eff. Aug. 8, 1997.