§ 8641. Becoming a general partner.
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§ 8641. Becoming a general partner.
(a)Admission on formation.-- On formation of a limited partnership, a person becomes a general partner as agreed among the persons that are to be the initial partners.
(b)Admission after formation.-- After formation of a limited partnership, a person becomes a general partner:
(1)as provided in the partnership agreement;
(2)as the result of a transaction effective under Chapter 3 (relating to entity transactions);
(3)with the affirmative vote or consent of all the partners; or
(4)under section 8681(a)(3)(ii) or
(5)(relating to events causing dissolution) following the dissociation of a limited partnership's last general partner.
(c)Noneconomic general partners.-- A person may become a general partner without:
(1)acquiring a transferable interest; or
(2)making or being obligated to make a contribution to the partnership.
(d)Nature of interest.-- The interest of a general partner in a limited partnership is personal property.
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Cross References. Section 8641 is referred to in section 8612 of this title.
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