There is a newer version
of
this Section
2017 Code of Alabama
Title 10A - ALABAMA BUSINESS AND NONPROFIT ENTITIES CODE.
Chapter 9A - ALABAMA LIMITED PARTNERSHIP LAW.
Article 4 - General Partners.
Section 10A-9A-4.01 - Admission of general partner.
Universal Citation: AL Code § 10A-9A-4.01 (2017)
Section 10A-9A-4.01Admission of general partner.
(a) Upon formation of a limited partnership, a person is admitted as a general partner as agreed among the persons that are to be the initial partners.
(b) After formation of a limited partnership, a person is admitted as a general partner:
(1) as provided in the partnership agreement;
(2) as the result of a transaction effective under Article 10 of this chapter or Article 8 of Chapter 1;
(3) with the consent of all the partners; or
(4) as provided in Section 10A-9A-8.01(c) or (e).
(c) A person may be admitted as a general partner without:
(1) acquiring a transferable interest; or
(2) making or being obligated to make a contribution to the partnership.
(Act 2016-379, §1.)
Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
