{"data":{"id":"us-pa/15-pa.c.s.-8631","jurisdiction":"us-pa","citation":"15 Pa.C.S. § 8631","heading":"Becoming a limited partner.","body":"(a) Upon formation.--Upon formation of a limited partnership, a person becomes a limited partner as agreed among the persons that are to be the initial partners.\n(b) After formation.--After formation, a person becomes a limited partner:\n(1) as provided in the partnership agreement;\n(2) as the result of a transaction effective under Chapter 3 (relating to entity transactions);\n(3) with the affirmative vote or consent of all the partners; or\n(4) as provided in section 8681(a)(4) or (5) (relating to events causing dissolution).\n(c) Noneconomic limited partners.--A person may become a limited partner without:\n(1) acquiring a transferable interest; or\n(2) making or being obligated to make a contribution to the limited partnership.\n(d) Nature of interest.--The interest of a limited partner in a limited partnership is personal property.","path":["Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS","PART III PARTNERSHIPS AND LIMITED LIABILITY COMPANIES","CHAPTER 86 LIMITED PARTNERSHIPS","SUBCHAPTER C LIMITED PARTNERS"],"source_url":"https://www.palegis.us/statutes/consolidated/view-statute?txtType=HTM\u0026ttl=15\u0026div=0\u0026chpt=86\u0026sctn=31\u0026subsctn=0","current_through":"2026-07-28 (Statute Update stamp, 15 Pa.C.S.)","vintage":"","retrieved_at":"2026-09-02T16:31:13Z","sha256":"70762b70c9c671f01525401a7b0ae6f306b51cfdb914223ac22c2726fad8e74d","source_id":"us-pa","stale":false,"prev":"us-pa/15-pa.c.s.-8625","next":"us-pa/15-pa.c.s.-8632"},"notice":"GroundRules: Original legal text. Not legal advice."}