New Jersey § 42:1a-47

Full text of New Jersey New Jersey Statutes § 42:1a-47, with citation guidance and answers to common questions.

§ 42:1a-47.

a. A partnership may become a limited liability partnership pursuant to this section. b. The terms and conditions on which a partnership becomes a limited liability partnership

shall be approved by the vote necessary to amend the partnership agreement except,

in the case of a partnership agreement that expressly considers obligations to contribute

to the partnership, the vote necessary to amend those provisions. c. After the approval required by subsection b. of this section, a partnership may

become a limited liability partnership by filing a statement of qualification in the

office of the Division of Commercial Recording in the Department of the Treasury. The statement shall contain: (1) the name of the partnership; (2) the street address of the partnership's chief executive office and, if different,

the street address of an office in this State, if any; (3) if the partnership does not have an office in this State, the name and street

address of the partnership's agent for service of process; (4) a statement that the partnership elects to be a limited liability partnership;

and (5) a deferred effective date, if any. d. The agent of a limited liability partnership for service of process shall be an

individual who is a resident of this State or other person authorized to do business

in this State. e. The status of a partnership as a limited liability partnership is effective on

the later of the filing of the statement or a date specified in the statement. The status remains effective, regardless of changes in the partnership, until it

is canceled pursuant to subsection d. of section 6 of this act 1 or revoked pursuant to section 49 of this act. 2 f. The status of a partnership as a limited liability partnership and the liability

of its partners is not affected by errors or later changes in the information required

to be contained in the statement of qualification under subsection c. of this section. g. The filing of a statement of qualification establishes that a partnership has satisfied

all conditions precedent to the qualification of the partnership as a limited liability

partnership. h. An amendment or cancellation of a statement of qualification is effective when

it is filed or on a deferred effective date specified in the amendment or cancellation. 1

N.J.S.A. § 42:1A-6. 2

N.J.S.A. § 42:1A-49.

Frequently Asked Questions About New Jersey § 42:1a-47

What does New Jersey Statutes § 42:1a-47 cover?

Section 42:1a-47 is part of the New Jersey Statutes, the codified statutory law of New Jersey. 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 New Jersey § 42:1a-47?

A common citation format is "New Jersey Statutes § 42:1a-47" (New Jersey). 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 New Jersey law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.

How does New Jersey § 42:1a-47 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey 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 New Jersey.