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1997 SESSION

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HB 2451 Limited partnerships.

Introduced by: W. W. Bennett, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Limited partnerships. Amends provisions of Virginia's partnership statutes to (i) allow limited partners to withdraw from a limited partnership prior to dissolution in accordance with the terms of a written partnership agreement, (ii) clarify the required vote of limited partners to wind up a limited partnership's affairs, (iii) provide that any partner may execute a statement by an attorney-in-fact, and (iv) repeal sections that will not be applicable after the revisions to the Uniform Partnership Act become effective in July 1997.


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