16-18-401. Becoming partner.
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/ut/title-16/chapter-18/16-18-401·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 10/1/2026
16-18-401. Becoming partner.
(1)Upon formation of a partnership, a person becomes a partner under Subsection 16-18-202(1) .
(2)After formation of a partnership, a person becomes a partner:
(a)as provided in the partnership agreement;
(b)as a result of a transaction effective under Chapter 1a, Part 7, Merger, Chapter 1a, Part 8, Interest Exchange, Chapter 1a, Part 9, Conversion, or Chapter 1a, Part 10, Domestication; or
(c)with the consent of all the partners.
(3)A person may become a partner without either:
(a)acquiring a transferable interest; or
(b)making or being obligated to make a contribution to the partnership.
Renumbered and Amended by Chapter 93 , 2026 General Session