(1) A person becomes a general partner:
- (a) upon formation of a limited partnership, as agreed among the persons that are to be the initial partners; and
(b) after formation:
- (i) as provided in the partnership agreement;
- (ii) under Subsection 16-19-801(1)(c)(ii) following the dissociation of a limited partnership's last general partner;
(iii) as the result of a transaction effective under:
- (A) Chapter 1a, Part 7, Merger;
- (B) Chapter 1a, Part 8, Interest Exchange;
- (C) Chapter 1a, Part 9, Conversion; or
- (D) Chapter 1a, Part 10, Domestication; or
- (iv) with the affirmative vote or consent of all the partners.
(2) A person may become a general partner without:
- (a) acquiring a transferable interest; or
- (b) making or being obligated to make a contribution to the limited partnership.
Renumbered and Amended by Chapter 93, 2026 General Session