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This entry was published on 2014-09-22
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SECTION 121-405
Classes and voting by general partners
Partnership (PTR) CHAPTER 39, ARTICLE 8-A
§ 121-405. Classes and voting by general partners. (a) A partnership
agreement may provide for classes or groups of general partners having
such relative rights and powers as the partnership agreement may
provide, and may make provision for the future creation in the manner
provided in the partnership agreement of additional classes of general
partners having such relative rights and powers as may from time to time
be established pursuant to the partnership agreement including rights
and powers senior to existing classes of general partners. The
partnership agreement may grant to all or to one or more classes of
general partners the right to vote, on a per capita, class or other
basis, upon any matter.

(b) A partnership agreement may set forth provisions relating to
notice of the time, place or purpose of any meeting at which any matter
is to be voted on by any general partners, waiver of any such notice,
action by consent without a meeting, the establishment of a record date,
quorum requirements, voting in person or by proxy, or any other matter
with respect to the exercise of any such right to vote.