§ 61-2-603. Withdrawal of Limited Partner
A limited partner may withdraw from a limited partnership at the time or upon the happening of events specified in the partnership agreement and in accordance with the partnership agreement.
§ 61-2-604. Distribution Upon Withdrawal
Except as provided in this part, upon withdrawal any withdrawing partner is entitled to receive any distribution to which he is entitled under the partnership agreement and, if not otherwise provided in the partnership agreement, he is entitled to receive, within a reasonable time after withdrawal, the fair value of his interest in the limited […]
§ 61-2-605. Distribution in Kind
Except as provided in the partnership agreement, a partner, regardless of the nature of his contribution, has no right to demand and receive any distribution from a limited partnership in any form other than cash. Except as provided in the partnership agreement, a partner may not be compelled to accept a distribution of any asset […]
§ 61-2-606. Right to Distribution
Subject to §§ 61-2-607 and 61-2-804, and unless otherwise provided in the partnership agreement, at the time a partner becomes entitled to receive a distribution, he has the status of, and is entitled to all remedies available to, a creditor of the limited partnership with respect to the distribution. A partnership agreement may provide for […]
§ 61-2-402. When Person Ceases to Be Partner
A person ceases to be a general partner of a limited partnership upon the happening of any of the following events: The general partner withdraws from the limited partnership as provided in § 61-2-602; The general partner ceases to be a general partner of the limited partnership as provided in § 61-2-702; The general partner […]
§ 61-2-403. Rights and Powers — Liabilities
Except as provided in this chapter or in the partnership agreement, a general partner of a limited partnership has the rights and powers and is subject to the restrictions of a partner in a partnership without limited partners. Except as provided in this chapter, a general partner of a limited partnership has the liabilities of […]
§ 61-2-404. Contributions — Share of Profits, Etc
A general partner of a limited partnership may make contributions to the limited partnership and share in the profits and losses of, and in distributions from, the limited partnership as a general partner. A general partner also may make contributions to and share in profits, losses and distributions as a limited partner. A person who […]
§ 61-2-405. Discharge of Duties — Liability
A general partner shall discharge his duties as a partner, including his duties as a member of a committee: In good faith; With the care an ordinarily prudent person in a like position would exercise under similar circumstances; and In a manner he reasonably believes to be in the best interest of the partnership. In […]
§ 61-2-406. Conflict of Interest
A conflict of interest transaction is a transaction with the partnership in which a general partner of the partnership has a direct or indirect interest. A conflict of interest transaction is not voidable by the partnership solely because of the general partner’s interest in the transaction if any one (1) of the following is true: […]
§ 61-2-301. Admission of Limited Partners
In connection with the formation of a limited partnership, a person acquiring a partnership interest as a limited partner is admitted as a limited partner of the limited partnership upon the latter to occur of: The formation of the limited partnership; or The time provided in and upon compliance with the partnership agreement or, if […]