56-1a201. Admission of additional limited partners.
56-1a201
56-1a201. Admission of additional limited partners.(a) A person becomes a limited partner:
(1) At the time the limited partnership is formed; or
(2) at any later time specified in the records of the limitedpartnership for becoming a limited partner.
(b) After the filing of a limited partnership's initial certificate of limitedpartnership, a person may be admitted as an additional limited partner:
(1) In the case of a person acquiring a partnership interest directlyfrom the limited partnership, upon compliance with the partnership agreementor, if the partnership agreement does not so provide, upon the written consentof all partners; and
(2) in the case of an assignee of a partnership interest of a partnerwho has the power, as provided in K.S.A. 56-1a404 and amendmentsthereto, to grant the assigneethe right to become a limited partner, upon the exercise of that power andcompliance with any conditions limiting the grant or exercise of the power.
History: L. 1983, ch. 88, § 18;L. 1987, ch. 208, § 8; July 1.