Admission of limited partners

7-62-301. Admission of limited partners. (1) After the filing of a limited partnership's original certificate of limited partnership, a person may be admitted as an additional limited partner: (a) In the case of a person acquiring a partnership interest directly from the limited partnership, upon compliance with the partnership agreement or, if the partnership agreement does not so provide, upon the written consent of all partners; (b) In the case of an assignee of a partnership interest of a partner who has the power, as provided in section 7-62-704, to grant the assignee the right to become a limited partner, upon the exercise of that power and compliance with any conditions limiting the grant or exercise of the power; and (c) Either upon formation of the limited partnership or thereafter without making a contribution or being obligated to make a contribution to the limited partnership or acquiring a partnership interest, if in either case such admission is pursuant to a written partnership agreement or other writing confirming the admission. (2) A person becomes a limited partner on the later of: (a) The date the original certificate of limited partnership is filed in the records of the secretary of state; and (b) The date reflected in the records of the limited partnership as the date that person becomes a limited partner. Source: L. 81: Entire article added, p. 440, � 1, effective November 1. L. 86: (2) R&RE, p. 453, � 14, effective July 1. L. 2003: (2)(a) amended, p. 2245, � 133, effective July 1, 2004. L. 2009: (1) amended, (HB 09-1248), ch. 252, p. 1130, � 5, effective May 14.