359.181. When person becomes limited partner--admission of additional limited partner. - Missouri Statutes

When person becomes limited partner--admission of additional limitedpartner.

359.181. 1. A person becomes a limited partner on thelater of:

(1) The date the original certificate of limitedpartnership is filed; or

(2) The date stated in the records of the limitedpartnership as the date that person becomes a limited partner.

2. After the filing of a limited partnership's originalcertificate of limited partnership, a person may be admitted asan additional limited partner:

(1) In the case of a person acquiring a partnershipinterest directly from the limited partnership, upon thecompliance with the partnership agreement or, if the partnershipagreement does not so provide, upon the written consent of allpartners;

(2) In the case of an assignee of a partnership interest ofa partner who has the power, as provided in section 359.431, togrant the assignee the right to become a limited partner, uponthe exercise of that power and compliance with any conditionslimiting the grant or exercise of the power.

(L. 1985 H.B. 512 & 650, A.L. 1990 H.B. 1432)