New Jersey Statutes 42:2A-30. Admission of additional general partners
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Terms Used In New Jersey Statutes 42:2A-30
- in interest: shall mean a vote or percentage of a limited partner (in a class of limited partners) equal to the portion that partner's share in contributions to the partnership bears to the share in contributions to the partnership of all limited partners (of that class). See New Jersey Statutes 42:2A-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.
- Partnership agreement: means any valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business. See New Jersey Statutes 42:2A-5
Admission of additional general partners. After the filing of a limited partnership‘s original certificate of limited partnership, additional general partners may be admitted as provided for in the written partnership agreement but in no event by less than the written consent of all existing general partners and two-thirds in interest of the limited partners.
L. 1983, c. 489, s. 29; amended 1984, c.245,s.9; 1988,c.130,s.17.