253 General partners' powers and liabilities.

Checkout our iOS App for a better way to browser and research.

56-1a253. General partners' powers and liabilities.
(a) Except as provided in this act or in the partnership agreement, a general partner of a limited partnership has the rights and powers and is subject to the restrictions of a partner in a partnership without limited partners.

(b) Except as provided in this act, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to persons other than the partnership and the other partners.

(c) Except as provided in this act or in the partnership agreement, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to the partnership and to the other partners.

History: L. 1983, ch. 88, § 25; July 1.


Download our app to see the most-to-date content.