Which of the following is true of the admission of a new general partner to an existing limited partnership?

Question

Quizplus · Accepted Answer

The admission of a new general partner to an existing limited partnership requires the approval of all existing general partners and, if the limited partnership agreement so requires, the consent of all limited partners. However, the limited partnership agreement can waive the right of partners to approve the admission of new general partners, but it cannot waive the right of limited partners to consent to the admission of new partners. Therefore, option B is the only true statement. A, C, and D are incorrect.

Which of the Following Is True of the Admission of a New