§ 10-403. Powers and liabilities

Latest version.

(a) In general. -- Except as provided in this title or in the partnership agreement, a general partner of a limited partnership has the rights and powers and is subject to the restrictions and liabilities of a partner in a partnership.

(b) Restrictions on limiting of liability. -- A general partner may not limit the general partner's liability in the partnership agreement to persons other than his partners or the limited partnership.

HISTORY: 1981, ch. 801, § 2; 1982, ch. 873; 1997, ch. 654, § 2.

                    
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