Washington Code 25.10.761 – Action on plan of conversion by converting limited partnership
Current as of: 2023 | Check for updates
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(1) Subject to RCW 25.10.796, a plan of conversion must be consented to by all the partners of a converting limited partnership.
Terms Used In Washington Code 25.10.761
- 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.
(2) Subject to RCW 25.10.796 and any contractual rights, after a conversion is approved, and at any time before a filing is made under RCW 25.10.766, a converting limited partnership may amend the plan or abandon the planned conversion:
(a) As provided in the plan; and
(b) Except as prohibited by the plan, by the same consent as was required to approve the plan.