{"data":{"id":"us-ok/okla.-stat.-tit.-54-54-500-1203a","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 54, § 54-500-1203A","heading":"Application to existing relationships","body":"APPLICATION TO EXISTING RELATIONSHIPS.\n\n(a) Before July 1, 2011, the Uniform Limited Partnership Act of\n\n2010 governs only:\n\n(1) a limited partnership formed on or after January 1, 2011;\n\nand\n\n(2) except as otherwise provided in subsections (c) and (d) of\n\nthis section, a limited partnership formed before January 1, 2011,\n\nwhich elects, in the manner provided in its partnership agreement or\n\nby law for amending the partnership agreement, to be subject to the\n\nUniform Limited Partnership Act of 2010.\n\n(b) Except as otherwise provided in subsection (c) of this\n\nsection, on and after July 1, 2011, the Uniform Limited Partnership\n\nAct of 2010 governs all limited partnerships.\n\n(c) With respect to a limited partnership formed before January\n\n1, 2011, the following rules apply except as the partners otherwise\n\nelect in the manner provided in the partnership agreement or by law\n\nfor amending the partnership agreement:\n\n(1) Subsection (c) of Section 4 of this act does not apply and\n\nthe limited partnership has whatever duration it had under the law\n\napplicable immediately before January 1, 2011.\n\n(2) The limited partnership is not required to amend its\n\ncertificate of limited partnership to comply with paragraph (4) of\n\nsubsection (a) of Section 19 of this act.\n\n(3) Sections 52 and 53 of this act do not apply and a limited\n\npartner has the same right and power to dissociate from the limited\n\npartnership, with the same consequences, as existed immediately\n\nbefore January 1, 2011.\n\n(4) Paragraph (4) of Section 54 of this act does not apply.\n\n(5) Paragraph (5) of Section 54 of this act does not apply and\n\na court has the same power to expel a general partner as the court\n\nhad immediately before January 1, 2011.\n\n(6) Paragraph (3) of Section 63 of this act does not apply and\n\nthe connection between a person’s dissociation as a general partner\n\nand the dissolution of the limited partnership is the same as\n\nexisted immediately before January 1, 2011.\n\n(d) With respect to a limited partnership that elects pursuant\n\nto paragraph (2) of subsection (a) of this section to be subject to\n\nthe Uniform Limited Partnership Act of 2010, after the election\n\ntakes effect the provisions of the Uniform Limited Partnership Act\n\nof 2010 relating to the liability of the limited partnership’s\n\ngeneral partners to third parties apply:\n\n(1) before July 1, 2011, to:\n\n(A) a third party that had not done business with the\n\nlimited partnership in the year before the election\n\ntook effect; and\n\n(B) a third party that had done business with the limited\n\npartnership in the year before the election took\n\neffect only if the third party knows or has received a\n\nnotification of the election; and\n\n(2) on and after July 1, 2011, to all third parties, but those\n\nprovisions remain inapplicable to any obligation incurred while\n\nthose provisions were inapplicable under subparagraph (B) of\n\nparagraph (1) of this subsection.","path":["OK Code","Title 54"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os54.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"e245ace791461799ab93e5f82bda36718c789f828aa15f7138b9492d7764b8c2","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-54-54-500-1202a","next":"us-ok/okla.-stat.-tit.-54-54-500-1207a"},"notice":"GroundRules: Original legal text. Not legal advice."}