Minnesota Statutes 321.0401 – Becoming General Partner
Current as of: 2023 | Check for updates
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A person becomes a general partner:
Terms Used In Minnesota Statutes 321.0401
- 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.
- Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
(1) as provided in the partnership agreement;
(2) under section 321.0801(3)(B) following the dissociation of a limited partnership’s last general partner;
(3) as the result of a conversion or merger under article 11; or
(4) with the consent of all the partners.