The Florida Senate

620.143  Withdrawal of limited partner.--

(1)  A limited partner may withdraw from a limited partnership only at the time or upon the occurrence of an event specified in the partnership agreement or certificate of limited partnership.

(2)  This section applies to all limited partnerships formed on or after January 1, 1996. This section also applies to a limited partnership formed before January 1, 1996, unless on December 31, 1995, its agreement did not specify in writing the time or the events upon the happening of which a limited partner could withdraw or a definite time for the dissolution and the winding up of the limited partnership. If the agreement of a partnership formed before January 1, 1996, did not on December 31, 1995, specify in writing the time or the events upon the happening of which a limited partner could withdraw or a definite time for the dissolution and the winding up of the limited partnership, the provisions of this section which were in effect prior to January 1, 1996, shall apply. However, if on or after January 1, 1996, its agreement is amended in writing to specify a time or the events upon the happening of which a limited partner may withdraw or a definite time for the dissolution and winding up of the limited partnership, this section as effective January 1, 1996, shall apply.

History.--s. 35, ch. 86-263; s. 19, ch. 95-242.