16-19-401. Becoming general partner.
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Effective 10/1/2026
16-19-401. Becoming general partner.
(1)A person becomes a general partner:
(a)upon formation of a limited partnership, as agreed among the persons that are to be the initial partners; and
(b)after formation:
(i)as provided in the partnership agreement;
(ii)under Subsection 16-19-801(1)(c)(ii) following the dissociation of a limited partnership's last general partner;
(iii)as the result of a transaction effective under:
(A)Chapter 1a, Part 7, Merger;
(B)Chapter 1a, Part 8, Interest Exchange;
(C)Chapter 1a, Part 9, Conversion; or
(D)Chapter 1a, Part 10, Domestication; or
(iv)with the affirmative vote or consent of all the partners.
(2)A person may become a general partner without:
(a)acquiring a transferable interest; or
(b)making or being obligated to make a contribution to the limited partnership.
Renumbered and Amended by Chapter 93 , 2026 General Session