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2019 Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 4 - Partnerships
Chapter 47 - Uniform Limited Partnership Act (2001)
Subchapter 1 - General Provisions
§ 4-47-113. Dual Capacity
Universal Citation:
AR Code § 4-47-113 (2019)
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A person may be both a general partner and a limited partner. A person that is both a general and limited partner has the rights, powers, duties, and obligations provided by this chapter and the partnership agreement in each of those capacities. When the person acts as a general partner, the person is subject to the obligations, duties and restrictions under this chapter and the partnership agreement for general partners. When the person acts as a limited partner, the person is subject to the obligations, duties and restrictions under this chapter and the partnership agreement for limited partners.
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