TN Changes to Limited Partnerships

Effective date January 1, 2018

Tennessee Uniform Limited Partnership Act TN ULPA-2017 took effect and applies to limited partnerships formed in TN after January 1, 2018. Domestic LPs formed prior to January 1, 2018 that do not elect to be governed by the TN ULP-2017 will continue to be governed by Tennessee’s Revised Uniform Limited Partnership Act of 2001 (RULPA-2001), although any renewal of their term must be made under the new act. The TN ULPA-2017 also applies to foreign LPs that register in Tennessee after the effective date, as well as to foreign LPs that registered in TN prior to the effective date as of the due date of their next annual report.

Revised forms covering both the TN ULPA-2017 and the RULPA-2001 are being posted to the Tennessee Secretary of State’s website, and the TN SOS’s office has advised that it will stop accepting old forms.

For more information, visit https://sos-tn-gov-files.s3.amazonaws.com/forms/pc0440.pdf.

 

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