Current through Chapters 1 to 249 and Chapters 253 to 255 of the 2024 Legislative Session
Section 109:17 - Limited partners(a) A person becomes a limited partner on the later of: (1) the date the original certificate of limited partnership is filed; or(2) the date stated in the records of the limited partnership as the date that person becomes a limited partner.(b) After the filing of a limited partnership's original certificate of limited partnership, a person may be admitted as an additional limited partner: (1) 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; and(2) in the case of an assignee of a partnership interest of a partner who has the power, as provided in section forty-two, 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.Mass. Gen. Laws ch. 109, § 17