Part 2General
Partners in limited partnership
24Change of partner status
A general partner may become a limited partner.
A limited partner may become a general partner.
This section is subject to section 8(1) and (2).
Limited Partnerships Act 2008
General - Partners in limited partnership
24: Change of partner status
"Switching from one type of partner to another in a business"
If you are a general partner in a limited partnership, you can change to being a limited partner. You can also change from being a limited partner to a general partner. This change is subject to rules in section 8(1) and (2).
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1139166.
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23: Restriction on limited partner as party to limited partnership proceeding, or
"Rules about limited partners being part of a court case involving their partnership"
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25: Debts and liabilities of limited partnership include overseas-connected debts and liabilities, or
"A limited partnership's debts include those from overseas business too."