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Section 61-3-401 - Becoming general partner — Tennessee Law | CourtGPT
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  7. Section 61-3-401 - Becoming general partner
Tennessee Legal Code

Section 61-3-401 - Becoming general partner

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(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 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)(3)(B).(c) 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.Added by 2017 Tenn. Acts, ch. 440,s 1, eff. 1/1/2018.