1. (a) A person becomes a limited partner:

   1. (1) Upon formation as provided in the partnership agreement; or

   2. (2) After formation, a person becomes a limited partner:

      1. (A) As provided in the partnership agreement;
      2. (B) As the result of a merger under subchapter X of this chapter or a transaction under Chapter 2 of this title;
      3. (C) With the consent of all the partners; or
      4. (D) As provided in § 29-708.01(4).

2. (b) A person may become a limited partner without:

   1. (1) Acquiring a transferable interest; or
   2. (2) Making or being obligated to make a contribution to the limited partnership.

Editor's Notes

Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.

Uniform Law: This section is based on § 301 of the Uniform Limited Partnership Act (2001 Act).

History

July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720

Mar. 5, 2013, D.C. Law 19-210, § 2(g)(4)(A), 59 DCR 13171

Effect of Amendments

The 2013 amendment by D.C. Law 19-210 rewrote the section.

Section References

This section is referenced in § 29-701.02.