When can a partnership continue if a new partner joins?

A partnership can continue when a new partner joins, provided that the department is notified within 30 days and the changes are approved. This procedure ensures that the partnership remains compliant with state regulations and maintains its legal standing. The requirement for notification and approval reflects the need for transparency and proper management oversight in partnerships, as it allows for the assessment of the new partner's suitability and other potential regulatory implications.

While it might seem that the new partner's payment or agreement from existing partners could suffice to allow the partnership to continue, these actions do not fulfill the regulatory requirements needed when altering the structure of a partnership. The inclusion of a new partner can significantly impact the partnership’s dynamics, liabilities, and responsibilities, hence the importance of adhering to the formal notification and approval process.