New Hampshire Revised Statutes 304-B:16-h – Duty to Demand Payment
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I. A limited partner sent a dissenters’ notice described in N.H. Rev. Stat. § 304-B:16-g must demand payment and certify whether the limited partner acquired the limited partnership interest before the date required to be set forth in the dissenters’ notice pursuant to N.H. Rev. Stat. § 304-B:16-g.
II. A limited partner who demands payment under paragraph I retains all of the rights of a limited partner until those rights are canceled or modified by consummation of the proposed action of the limited partnership.
III. A limited partner who does not demand payment by the date set forth in the dissenters’ notice is not entitled to payment of fair value for such limited partner’s partnership interest under this subdivision.
IV. A demand for payment filed by a limited partner may not be withdrawn unless the limited partnership with which it was filed or the surviving limited partnership or other business entity consents to such withdrawal.
II. A limited partner who demands payment under paragraph I retains all of the rights of a limited partner until those rights are canceled or modified by consummation of the proposed action of the limited partnership.
Terms Used In New Hampshire Revised Statutes 304-B:16-h
- 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
III. A limited partner who does not demand payment by the date set forth in the dissenters’ notice is not entitled to payment of fair value for such limited partner’s partnership interest under this subdivision.
IV. A demand for payment filed by a limited partner may not be withdrawn unless the limited partnership with which it was filed or the surviving limited partnership or other business entity consents to such withdrawal.