§ 8578. Division without approval of limited partners. Unless otherwise restricted by its partnership agreement, a plan of division that does not alter the state of organization of a limited partnership nor amend in any respect the provisions of its certificate of limited partnership or partnership agreement (except amendments that may be made without action by the limited partners) shall not require the approval of the limited partners of the limited partnership if: (1) the dividing limited partnership survives the division and all the partnership interests and other securities and obligations, if any, of all new limited partnerships resulting from the plan are owned solely by the surviving limited partnership; or (2) the transfers of assets effected by the division, if effected by means of a sale, lease, exchange or other disposition, would not require the approval of the limited partners. Cross References. Section 8578 is referred to in section 8577 of this title.

§ 8578. Division without approval of limited partners. Unless otherwise restricted by its partnership agreement, a plan of division that does not alter the state of organization of a limited partnership nor amend in any respect the provisions of its certificate of limited partnership or partnership agreement (except amendments that may be made without action by the limited partners) shall not require the approval of the limited partners of the limited partnership if: (1) the dividing limited partnership survives the division and all the partnership interests and other securities and obligations, if any, of all new limited partnerships resulting from the plan are owned solely by the surviving limited partnership; or (2) the transfers of assets effected by the division, if effected by means of a sale, lease, exchange or other disposition, would not require the approval of the limited partners. Cross References. Section 8578 is referred to in section 8577 of this title.