Florida Statutes 620.1301 – Becoming limited partner
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 620.1301
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
A person becomes a limited partner:
(1) As provided in the partnership agreement;
(2) As the result of a conversion or merger involving the limited partnership under this act as provided in the plan of conversion or merger; or
(3) With the consent of all the partners.