35-12-701. Becoming limited partner. A person becomes a limited partner:

Terms Used In Montana Code 35-12-701

  • 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 a corporation or other entity as well as a natural person. See Montana Code 1-1-201

(1)as provided in the partnership agreement;

(2)as the result of a conversion or merger under Title 35, chapter 12, part 15; or

(3)with the consent of all the partners.