TITLE 30

CORPORATIONS

CHAPTER 24

LIMITED PARTNERSHIPS

PART 4

GENERAL PARTNERS

30-24-401.  BECOMING GENERAL PARTNER. (a)  Upon formation of a limited partnership, a person becomes a general partner as agreed among the persons that are to be the initial partners.

(b)  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 22, title 30, Idaho Code;

(3)  With the affirmative vote or consent of all the partners: or

(4)  Under section 30-24-801(a)(3)(B), Idaho Code, following the dissociation of a limited partnership’s last general partner.

(c)  A person may become a general partner without:

[(1)](a)  Acquiring a transferable interest; or

[(2)](b)  Making or being obligated to make a contribution to the partnership.

History:

[30-24-401, added 2015, ch. 243, sec. 36, p. 850.]