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Mississippi Code 1972 (2023)
Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604)
Chapter 14 - MISSISSIPPI UNIFORM LIMITED PARTNERSHIP ACT (§§ 79-14-101 — 79-14-1301)
Article 3 - LIMITED PARTNERS (§§ 79-14-301 — 79-14-306)
Section 79-14-301 - Becoming limited partner
Universal Citation:
MS Code § 79-14-301 (2023)
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- (a) Upon formation of a limited partnership, a person becomes a limited partner as agreed among the persons that are to be the initial partners.
- (b) After formation, a person becomes a limited partner:
- (1) As provided in the partnership agreement;
- (2) As the result of a transaction effective under Article 11;
- (3) With the affirmative vote or consent of all the partners; or
- (4) As provided in Section 79-14-801(a)(4) or (a)(5).
- (c) A person may become a limited partner without:
- (1) Acquiring a transferable interest; or
- (2) Making or being obligated to make a contribution to the limited partnership.
Added by Laws, 2015, ch. 453, SB 2310, 1, eff. 7/1/2015.
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