Effect on partnerships existing prior to July 1, 1988

(a) This chapter shall not apply to limited partnerships existing before July 1 of the year in which this chapter becomes effective except as provided in Code Section 14-9-1201. (b) This chapter shall not be construed so as to impair, or otherwise affect, the organization or the continued existence of a limited partnership existing before July 1 of the year in which this chapter becomes effective. This chapter shall not be construed so as to impair any contract or to affect any action or proceedings begun or right accrued before July 1 of the year in which this chapter becomes effective. (Code 1981, § 14-9-1202, enacted by Ga. L. 1988, p. 1016, § 1.) COMMENT Note to Georgia Revised Uniform Limited Partnership Act Subsection (a) provides that the new act does not apply to limited partnerships existing prior to July 1, 1988 unless they elect to be so covered pursuant to Section 14-9-1201. Subsection (b) provides that the chapter does not impair or affect pre-existing organization, existence, contracts, actions or proceedings. Prior Georgia Law As to subsection (a), see Comment to Section 14-9-1201. Section 14-9A-3(c) is similar to subsection (b). 1055 14-9-1202 CORPORATIONS & PARTNERSHIPS 14-9-1203 Comparison With Official RULPA See Comment to Section 14-9-1201. RULPA Section 1105 is similar to Section 14-9-1202(b). Cross-Reference New act applies only to partnerships formed after effective date or that elect to adopt the new act: § 14-9-1201. 14-9-1203. Nonrenewable one-year name reservation for partnerships existing prior to July 1, 1988. (a) The intent of this Code section is to ensure an orderly transition to a centralized filing system for limited partnerships and to give existing limited partnerships an opportunity to establish name availability and other files with the Secretary of State to permit an orderly implementation of this chapter. (b) In order to preserve the availability of its name, a domestic limited partnership or a foreign limited partnership existing prior to July 1 of the year in which this chapter becomes effective may file with the Secretary of State a nonrenewable one-year name reservation after April 15 and before July 1 of the year in which this chapter becomes effective. Any of such limited partnerships which do not so file shall be subject to the name restrictions of Code Section 14-9-102. (Code 1981, § 14-9-1203, enacted by Ga. L. 1988, p. 1016, § 1.)