Admission of limited partners

(1) A person shall become a limited partner on the later of: (a) The date the original certificate of limited partnership is filed; or (b) At any later date specified in the records of the limited partnership as the date that person shall become a limited partner. (2) After the filing of a limited partnership's original certificate of limited partnership, a person may be admitted as an additional limited partner: (a) In the case of a person acquiring a partnership interest directly from the limited partnership, upon compliance with the partnership agreement or, if the partnership agreement does not so provide, upon the written consent of all partners; and (b) In the case of an assignee of a partnership interest of a partner who has the power, as provided in KRS 362.483, to grant the assignee the right to become a limited partner, upon the exercise of that power and compliance with any conditions limiting the grant or exercise of the power.