50-73.148 - Transition. - Virginia Statutes

§ 50-73.148. Transition.

Before January 1, 2000, a limited partnership voluntarily may elect, in themanner provided in its partnership agreement or by law for amending thepartnership agreement, to be governed by this chapter. The provisions of thischapter relating to the liability of the partnership's partners to thirdparties apply to limit those partners' liability to a third party who haddone business with the partnership within one year preceding thepartnership's election to be governed by this chapter, only if the thirdparty knows or has received a notification of the partnership's election tobe governed by this chapter.

(1996, c. 292.)