2010 Pennsylvania Code
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 85 - Limited Partnerships
8521 - Admission of limited partners.

                               SUBCHAPTER C
                             LIMITED PARTNERS

     Sec.
     8521.  Admission of limited partners.
     8522.  Classes of limited partners.
     8523.  Liability of limited partners to third parties.
     8524.  Person erroneously believing himself limited partner.
     8525.  Information.
     § 8521.  Admission of limited partners.
        (a)  Date of admission.--A person becomes a limited partner
     on the later of:
            (1)  the date the limited partnership is formed; or
            (2)  the date stated in the records of the limited
        partnership as the date that person becomes a limited
        partner.
        (b)  Admission of additional limited partners.--After the
     filing of the original certificate of limited partnership, a
     person may be admitted as an additional limited partner:
            (1)  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 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 8564
        (relating to right of assignee to become limited partner) 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.
            (3)  In the case of an assignee of a partnership
        interest, regardless of whether the assignee has been granted
        the right to become a limited partner as provided in section
        8564(a)(1), at the time or upon the happening of events
        specified in the partnership agreement.