2005 Minnesota Statutes - 322A.47 — Withdrawal of limited partner.

     322A.47 Withdrawal of limited partner. 


    Subdivision 1.    When agreement does not specify.  If 
 the partnership agreement does not specify in writing the time 
 or the events upon the happening of which a limited partner may 
 withdraw or a definite time for the dissolution and winding up 
 of the limited partnership, a limited partner may withdraw upon 
 not less than six months' prior written notice to each general 
 partner at each's address on the books of the limited 
 partnership at its office in this state.  


    This subdivision applies to limited partnerships formed 
 before August 1, 1998. 


    Subd. 2.    When agreement specifies.  A limited partner 
 may not withdraw from a limited partnership except at the time 
 or upon the happening of events specified in writing in the 
 partnership agreement.  


    This subdivision applies to all limited partnerships formed 
 on or after August 1, 1998, and to all limited partnerships 
 formed before August 1, 1998, in which the partnership agreement 
 specified in writing a time or events upon the happening of 
 which a limited partner could withdraw. 


    HIST: 1980 c 582 art 5 s 33; 1986 c 430 s 18; 1986 c 444; 1998 
 c 320 s 1