Limited partnerships; admission or withdrawal of partners. (HB2059)

Introduced By

Sen. Todd E. Pillion (R-Abingdon)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Limited partnerships; admission or withdrawal of partners. Provides that a person may be admitted to a limited partnership as a general partner and may receive a partnership interest in it without making, or being required to make, a contribution to the limited partnership. The measure also provides that, unless a partnership agreement otherwise provides, a person may be admitted to a limited partnership as its general partner without acquiring a partnership interest in the limited partnership. Finally, the measure clarifies that the withdrawal of a general partner from a limited partnership does not cause its dissolution (i) when there is at least one other general partner, unless the partnership agreement provides otherwise or all remaining partners agree or (ii) when all remaining partners agree in writing to continue the business of the limited partnership. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/14/2015Prefiled and ordered printed; offered 01/14/15 15101208D
01/14/2015Referred to Committee on Commerce and Labor
01/22/2015Reported from Commerce and Labor (20-Y 1-N) (see vote tally)
01/26/2015Read first time
01/27/2015Read second time and engrossed
01/28/2015Read third time and passed House (95-Y 3-N)
01/28/2015VOTE: PASSAGE (95-Y 3-N) (see vote tally)
01/29/2015Constitutional reading dispensed
01/29/2015Referred to Committee on Commerce and Labor
02/16/2015Reported from Commerce and Labor (13-Y 2-N) (see vote tally)
02/18/2015Constitutional reading dispensed (38-Y 0-N) (see vote tally)
02/19/2015Read third time
02/19/2015Passed Senate (35-Y 3-N) (see vote tally)
02/24/2015Enrolled
02/24/2015Bill text as passed House and Senate (HB2059ER)
02/25/2015Signed by Speaker
02/26/2015G Governor's Action Deadline Midnight, Monday, March 30, 2015
02/26/2015Signed by President
02/26/2015Enrolled Bill communicated to Governor on 2/26/15
02/26/2015G Governor's Action Deadline Midnight, Sunday, March 29, 2015
03/26/2015G Approved by Governor-Chapter 614 (effective 7/1/15)
03/26/2015G Acts of Assembly Chapter text (CHAP0614)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 2 clips in all, totaling 7 minutes.