New Hampshire Revised Statutes 304-B:16-d – Dissenters’ Rights
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I. A limited partner is entitled to dissent from, and obtain payment of, the fair value of the limited partner‘s partnership interest upon either of the following actions:
(a) Consummation of a plan of merger to which the limited partnership is a party.
(b) Consummation of a plan of conversion of the limited partnership to some other business entity.
II. A limited partner entitled to dissent and obtain payment for such limited partner’s partnership interest under this subdivision may not challenge the limited partnership action creating such limited partner’s entitlement unless the action is unlawful or fraudulent with respect to the limited partner or the limited partnership.
(a) Consummation of a plan of merger to which the limited partnership is a party.
Terms Used In New Hampshire Revised Statutes 304-B:16-d
- Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Limited partner: means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement. See New Hampshire Revised Statutes 304-B:1
- Limited partnership: and "domestic limited partnership" mean a partnership formed by 2 or more persons under the laws of this state and having one or more general partners and one or more limited partners. See New Hampshire Revised Statutes 304-B:1
- Partner: means a limited or general partner. See New Hampshire Revised Statutes 304-B:1
- 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.
- Partnership interest: means a partner's share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets. See New Hampshire Revised Statutes 304-B:1
(b) Consummation of a plan of conversion of the limited partnership to some other business entity.
II. A limited partner entitled to dissent and obtain payment for such limited partner’s partnership interest under this subdivision may not challenge the limited partnership action creating such limited partner’s entitlement unless the action is unlawful or fraudulent with respect to the limited partner or the limited partnership.