2006 Ohio Revised Code - 1782.17. When person becomes limited partner; additional limited partners.

§ 1782.17. When person becomes limited partner; additional limited partners.
 

(A)  A person becomes a limited partner at the time the limited partnership is formed or at any later time specified in the records of the limited partnership for becoming a limited partner. 

(B)  After the filing of a limited partnership's original certificate of limited partnership, a person may be admitted as an additional limited partner in the following ways: 

(1) In the case of a person acquiring a partnership interest directly from the limited partnership, upon compliance with the partnership agreement or, if the partnership agreement does not so provide, upon the written consent of all partners; 

(2) In the case of an assignee of a partnership interest of a partner who has the power, as provided in section 1782.42 of the Revised Code, 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. 
 

HISTORY: RC § 1781.08, 127 v 447 (Eff 9-14-57); RC § 1782.17, 140 v H 607 (Eff 4-1-85); 145 v S 74. Eff 7-1-94.