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This entry was published on 2014-09-22
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SECTION 121-404
Contributions by a general partner
Partnership (PTR) CHAPTER 39, ARTICLE 8-A
§ 121-404. Contributions by a general partner. A general partner of a
limited partnership shall make contributions to the limited partnership
and share in the profits and losses of, and in distributions from, the
limited partnership as a general partner. A person who is a general
partner also may make contributions and share in profits, losses, and
distributions as a limited partner. A person who is both a general
partner and a limited partner has the rights and powers, and is subject
to the restrictions and liabilities, of a general partner and, except as
provided in the partnership agreement, also has the rights and powers,
and is subject to the restrictions, of a limited partner to the extent
of his participation in the partnership as a limited partner.