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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>65300</law_id><section_number>50-73.22:1</section_number><catch_line>Admission of limited partners</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="50">Partnerships</unit><unit label="chapter" level="2" order_by="1" identifier="2.1">Virginia Revised Uniform Limited Partnership Act</unit><unit label="article" level="3" order_by="1" identifier="3">Limited Partners</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> A <span class="dictionary">person</span> becomes a <span class="dictionary">limited partner</span> on the later of: <a id="paragraph-237470" class="section-permalink" href="https://vacode.org/50-73.22_1/#A"><i class="fa fa-link"/></a></p></section>
						<section id="A1" class="indent-1"><p><span class="prefix-number">1.</span> The date the original <span class="dictionary">certificate of limited partnership</span> is filed; or <a id="paragraph-237471" class="section-permalink" href="https://vacode.org/50-73.22_1/#A1"><i class="fa fa-link"/></a></p></section>
						<section id="A2" class="indent-1"><p><span class="prefix-number">2.</span> The date stated in the records of the limited partnership as the date that <span class="dictionary">person</span> becomes a <span class="dictionary">limited partner</span>. <a id="paragraph-237472" class="section-permalink" href="https://vacode.org/50-73.22_1/#A2"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> After the filing of a limited partnership&#x2019;s initial <span class="dictionary">certificate of limited partnership</span>, a <span class="dictionary">person</span> may be admitted as an additional <span class="dictionary">limited partner</span>: <a id="paragraph-237473" class="section-permalink" href="https://vacode.org/50-73.22_1/#B"><i class="fa fa-link"/></a></p></section>
						<section id="B1" class="indent-1"><p><span class="prefix-number">1.</span> In the case of a <span class="dictionary">person</span> acquiring a <span class="dictionary">partnership interest</span> directly from the limited partnership, upon compliance with the <span class="dictionary">partnership agreement</span> or, if the <span class="dictionary">partnership agreement</span> does not so provide, upon the written consent of all <span class="dictionary">partners</span>; and <a id="paragraph-237474" class="section-permalink" href="https://vacode.org/50-73.22_1/#B1"><i class="fa fa-link"/></a></p></section>
						<section id="B2" class="indent-1"><p><span class="prefix-number">2.</span> In the case of an assignee of a <span class="dictionary">partnership interest</span> of a partner who has the power, as provided in &#xA7; <a class="law" title="Right of assignee to become limited partner" href="/50-73.47/">50-73.47</a>, to grant the assignee the right to become a <span class="dictionary">limited partner</span>, upon the exercise of that power and compliance with any conditions limiting the grant or exercise of the power. <a id="paragraph-237475" class="section-permalink" href="https://vacode.org/50-73.22_1/#B2"><i class="fa fa-link"/></a></p></section></text><history>1987, c. 702.</history><metadata></metadata></law>
