§ 323. Approval by general partnership.
116 words·~1 min read·
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§ 323. Approval by general partnership.
(a)General rule.-- A plan shall be approved in the case of a domestic general partnership as follows:
(1)in the manner provided in its organic rules for the type of plan involved;
(2)if its organic rules do not provide for approval of the type of plan involved, in the manner provided in its organic rules for approval of a plan of merger; or
(3)if its organic rules do not provide for approval of the type of plan involved or a plan of merger, the plan shall be approved by all of the partners.
(b)Cross reference.-- See section 3304(b) (relating to election of benefit corporation status).
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