{"data":{"id":"us-nc/n.c.-gen.-stat.-59-301","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 59-301","heading":"Admission of limited partners.","body":"(a)\tIn connection with the formation of a limited partnership, a person is admitted as a limited partner upon the later to occur of:\n(1)\tThe formation of the limited partnership; or\n(2)\tThe time provided for becoming a limited partner pursuant to and upon compliance with the partnership agreement.\n(b)\tAfter the formation of a limited partnership, a person may be admitted as an additional limited partner:\n(1)\tIn the case of a person acquiring a partnership interest directly from the limited partnership, at the time provided pursuant to, and upon the compliance with, the partnership agreement; and\n(2)\tIn the case of an assignee of a partnership interest of a partner who has the power, as provided in G.S. 59-704, 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. (1985 (Reg. Sess., 1986), c. 989, s. 2; 1999-362, s. 16.)","path":["Chapter 59. Partnership.","Article 5. Revised Uniform Limited Partnership Act.","Part 3. Limited Partners."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_59/GS_59-301.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:07:02Z","sha256":"aac989f62dd19988cf4ca23331f7bb51702fa91e0cb38f4adac4edd8d05c13e4","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-59-211-through-59-300","next":"us-nc/n.c.-gen.-stat.-59-302"},"notice":"GroundRules: Original legal text. Not legal advice."}