The Act introduces minor revisions and additions to Georgia's Uniform Partnership Act (UPA). The contents of statements of partnership are expanded to include information regarding the admission of new partners, and the Act provides that any such inclusion creates a conclusive presumption that an admittee so named is in fact a partner. The Act also amends the UPA to specify that when the business of a partnership is continued after an agreement of dissolution, partnership property may be applied to the liabilities and obligations of the continuing partnership. Title to the predecessor partnership's real property vests in the continuing partnership by operation of law.
CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS Partnerships: Revise Georgia Uniform Partnership Act,
Ga. St. U. L. Rev.
Available at: https://readingroom.law.gsu.edu/gsulr/vol6/iss1/39