Public Chapter 38

HOUSE BILL NO. 717

By Representative Fowlkes

Substituted for: Senate Bill No. 753

By Senator Cohen

AN ACT to amend Tennessee Code Annotated, Section 61-2-201, relative to limited partnerships.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:

SECTION 1. Tennessee Code Annotated, Section 61-2-201, is hereby amended by adding the following sentence at the end of subsection (c) thereof:

A limited partnership shall have a term of fifty (50) years unless the certificate of limited partnership provides otherwise.

SECTION 2. This act shall take effect upon becoming a law, the public welfare requiring it.