Liability for false statement in certificate.

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(1) If any certificate of limited partnership, certificate of amendment, or statement of dissolution containing a false statement is delivered to the secretary of state for filing pursuant to part 3 of article 90 of this title, one who suffers loss by reliance on the statement may recover damages for the loss from:

  1. Any general partner who knew or should have known the certificate of limited partnership, certificate of amendment, or statement of dissolution to be false at the time the same was approved; and

  2. Any general partner who thereafter knows or should have known that any statementin the certificate of limited partnership, certificate of amendment, or statement of dissolution has changed, making the same inaccurate in any respect within a sufficient time before the certificate of limited partnership, certificate of amendment, or statement of dissolution was relied upon reasonably to have enabled that general partner to correct the inaccuracy or to file a petition for its correction under section 7-90-313.

Source: L. 81: Entire article added, p. 439, § 1, effective November 1. L. 2002: IP(1) and (1)(a) amended, p. 1822, § 41, effective July 1; IP(1) and (1)(a) amended, p. 1687, § 39, effective October 1. L. 2003: IP(1) and (1)(b) amended, p. 2244, § 131, effective July 1, 2004. L. 2004: (1)(a) and (1)(b) amended, p. 1441, § 128, effective July 1.


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