Becoming limited partner

  1. Law
  2. Mississippi Code
  3. Corporations, Associations, and Partnerships
  4. Mississippi Uniform Limited Partnership Act
  5. Limited Partners
  6. Becoming limited partner

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Upon formation of a limited partnership, a person becomes a limited partner as agreed among the persons that are to be the initial partners.

After formation, a person becomes a limited partner:

  1. As provided in the partnership agreement;
  2. As the result of a transaction effective under Article 11;
  3. With the affirmative vote or consent of all the partners; or
  4. As provided in Section 79-14-801(a)(4) or (a)(5).

A person may become a limited partner without:

Acquiring a transferable interest; or

Making or being obligated to make a contribution to the limited partnership.


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