Legislation

Search OpenLegislation Statutes

This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 121-108
Business transactions of partner with the partnership
Partnership (PTR) CHAPTER 39, ARTICLE 8-A
§ 121-108. Business transactions of partner with the partnership.
Except as may be provided in the partnership agreement, a partner may
lend money to, borrow money from, act as a guarantor or surety for,
provide collateral for the obligations of, and transact other business
with the limited partnership, and, subject to other applicable law, has
the same rights and obligations with respect thereto as a person who is
not a partner.