Upon formation of a limited partnership, a person becomes a limited partner as agreed among the persons that are to be the initial partners.
After formation, a person becomes a limited partner:
- As provided in the partnership agreement;
- As the result of a transaction effective under Article 11;
- With the affirmative vote or consent of all the partners; or
- As provided in Section 79-14-801(a)(4) or (a)(5).
A person may become a limited partner without:
Acquiring a transferable interest; or
Making or being obligated to make a contribution to the limited partnership.