Indiana Code 23-16-7-3. Withdrawal of limited partner
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Sec. 3. A limited partner may withdraw from a limited partnership at the time or upon the happening of events specified in the partnership agreement and in accordance with the partnership agreement. If the partnership agreement does not specify in writing:
(2) a definite time for the dissolution and winding up of the limited partnership;
(1) the time or the events upon the happening of which a limited partner may withdraw; or
Terms Used In Indiana Code 23-16-7-3
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
- 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.
a limited partner may withdraw upon not less than six (6) months prior written notice to each general partner at the general partner’s address as set forth in the certificate of limited partnership filed in the office of the secretary of state.
As added by P.L.147-1988, SEC.1.