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2014 Utah Code
Title 48 - Partnership
Chapter 2a - Utah Revised Uniform Limited Partnership Act
Section 301 - Admission of additional limited partners.

Universal Citation:
UT Code ยง 48-2a-301 (2014)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
48-2a-301. Admission of additional limited partners.
(1) A person becomes a limited partner on the later of:
(a) the date the original certificate of limited partnership is filed; or
(b) the date stated in the records of the limited partnership as the date that person becomes a limited partner.
(2) 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 or in the case of an assignee of a partnership interest of a partner who does not have authority, as provided in Section 48-2a-704, to grant the assignee the right to become a limited partner, upon 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 authority, as provided in Section 48-2a-704, to grant the assignee the right to become a limited partner, upon the exercise of that authority and compliance with any conditions limiting the grant or exercise of the authority.


Amended by Chapter 189, 1991 General Session
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