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2019 New Hampshire Revised Statutes
Title XXVIII - Partnerships
Chapter 304-B - Uniform Limited Partnership Act
Section 304-B:17 - Admission of Limited Partners.
Universal Citation: NH Rev Stat § 304-B:17 (2019)
304-B:17 Admission of Limited Partners. –
I. A person becomes a limited partner:
(a) At the time the limited partnership is formed; or
(b) At any later time specified in the records of the limited partnership for becoming a limited partner.
II. After the filing of a limited partnership's original certificate of limited partnership, a person may be admitted as an additional limited partner:
(a) In the case of a person acquiring a partnership interest directly from the limited partnership, upon the compliance with the partnership agreement or, if the partnership agreement does not so provide, upon the written consent of all partners; and
(b) In the case of an assignee of a partnership interest of a partner who has the power, as provided in RSA 304-B:42, to grant the assignee the right to become a limited partner, upon the exercise of that power and compliance with any conditions limiting the grant or exercise of the power.
I. A person becomes a limited partner:
(a) At the time the limited partnership is formed; or
(b) At any later time specified in the records of the limited partnership for becoming a limited partner.
II. After the filing of a limited partnership's original certificate of limited partnership, a person may be admitted as an additional limited partner:
(a) In the case of a person acquiring a partnership interest directly from the limited partnership, upon the compliance with the partnership agreement or, if the partnership agreement does not so provide, upon the written consent of all partners; and
(b) In the case of an assignee of a partnership interest of a partner who has the power, as provided in RSA 304-B:42, to grant the assignee the right to become a limited partner, upon the exercise of that power and compliance with any conditions limiting the grant or exercise of the power.
Source. 1987, 349:1, eff. Jan. 1, 1988.
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