Connecticut General Statutes 34-33c – Approval of plan of merger or consolidation by general and limited partners
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Except as otherwise provided in the partnership agreement, a plan of merger or consolidation shall be approved by each domestic limited partnership named in the merger or consolidation (1) by all general partners, and (2) by the limited partners or, if there is more than one class or group of limited partners, then by each class or group of limited partners, provided in either case, by limited partners who own at least two-thirds of the current percentage or other interest in the profits of the domestic limited partnership owned by all of the limited partners or by the limited partners in each class or group, as appropriate.
Terms Used In Connecticut General Statutes 34-33c
- Consolidation: means a business combination pursuant to section 34-33b. See Connecticut General Statutes 34-9
- domestic limited partnership: means a partnership formed by two or more persons under the provisions of this chapter and having one or more general partners and one or more limited partners. See Connecticut General Statutes 34-9
- Merger: means a business combination pursuant to section 34-33a. See Connecticut General Statutes 34-9
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.