Becoming Limited Partner

  1. Law
  2. Tennessee Code
  3. Partnerships
  4. Tennessee Uniform Limited Partnership Act of 2017
  5. Limited Partners
  6. Becoming Limited Partner

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  1. Upon formation of a limited partnership, a person becomes a limited partner as agreed among the persons that are to be the initial partners.
  2. 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).
  3. 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.


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