(a) Upon formation of a limited partnership, a person becomes a limited partner as agreed among the persons that are to be the initial partners.(b) After formation, a person becomes a limited partner:(1) As provided in the partnership agreement;(2) As the result of a transaction effective under part 11 of this chapter;(3) With the affirmative vote or consent of all the partners; or(4) As provided in § 61-3-801(a)(4) or (a)(5).(c) A person may become a limited partner without:(1) Acquiring a transferable interest; or(2) Making or being obligated to make a contribution to the limited partnership.Added by 2017 Tenn. Acts, ch. 440,s 1, eff. 1/1/2018.
Tennessee Legal Code