(a) Upon formation of a limited partnership, a person is admitted as a general partner as agreed among the persons that are to be the initial partners. (b) After formation of a limited partnership, a person is admitted as a general partner: (1) as provided in the partnership agreement; (2) as the result of a transaction effective under Article 10 of this chapter or Article 8 of Chapter 1; (3) with the consent of all the partners; or (4) as provided in Section 10A-9A-8.01(c) or (e).
(c) A person may be admitted as a general partner without: (1) acquiring a transferable interest; or (2) making or being obligated to make a contribution to the partnership.
History: (Act 2016-379, §1.)