BECOMING LIMITED PARTNER

30-24-301. BECOMING LIMITED PARTNER. (a) Upon formation of a limited partnership, a person becomes a limited partner as agreed among the persons that are to be the initial partners. (b) After formation, a person becomes a limited partner: (1) As provided in the partnership agreement; (2) As the result of a transaction effective under chapter 22, title 30, Idaho Code; (3) With the affirmative vote or consent of all the partners; or (4) As provided in section 30-24-801(a)(4) or (5), Idaho Code. (c) 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.