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Admission of limited partners - 15 Pa. Cons. Stat. § 8521Legal Research Home > Pennsylvania Statutes
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.
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Last modified: November 27, 2007 |
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