Indiana § 23-16-5-5 - Classes or groups of general partners; rights, powers, and duties; voting
Full text of Indiana Indiana Code § 23-16-5-5 — Classes or groups of general partners; rights, powers, and duties; voting, with citation guidance and answers to common questions.
§ 23-16-5-5. Classes or groups of general partners; rights, powers, and duties; voting
Sec. 5. (a) A partnership agreement may provide for classes or groups of general partners having such relative rights, powers, and duties 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 or groups of general partners having such relative rights, powers, and duties as may from time to time be established (including rights, powers, and duties senior to existing classes and groups of general partners).
(b) The partnership agreement may grant to all the general partners, or to certain identified general partners, or to a specified class or group of general partners, the right to vote (on a per capita or any other basis), separately or with all or any class or group of the limited partners on any matter.
(c) A partnership agreement that grants a right to vote may set forth provisions relating to the following:
(1) Notice of the time, place, or purpose of any meeting at which any matter is to be voted on by any general partners.
(2) Waiver of the notice described in subdivision (1).
(3) Action by written consent without a meeting.
(4) The establishment of a record date.
(5) Quorum requirements.
(6) Voting in person or by proxy.
(7) Any other matter concerning the exercise of a right to vote under the partnership agreement.
As added by P.L.147-1988, SEC.1.
IC 23-16-6Chapter 6. Finance
23-16-6-1Form of contribution 23-16-6-2Liability for contribution 23-16-6-3Sharing of profits and losses 23-16-6-4Sharing of distributions
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 23-16-5-5
What does Indiana Code § 23-16-5-5 cover?
Section 23-16-5-5 ("Classes or groups of general partners; rights, powers, and duties; voting") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 23-16-5-5?
A common citation format is "Indiana Code § 23-16-5-5" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 23-16-5-5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.