Indiana Code 23-16-4-6. Admission of limited partners
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Sec. 6. A person acquiring a partnership interest is admitted as a limited partner when the latter of the following occurs:
(2) The time provided in the partnership agreement or, if no time is provided in the partnership agreement, when the person’s admission is reflected in the records of the limited partnership.
(1) The formation of the limited partnership.
Terms Used In Indiana Code 23-16-4-6
- 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.
As added by P.L.147-1988, SEC.1.