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2018 California Code
Corporations Code - CORP
TITLE 2 - PARTNERSHIPS
CHAPTER 4.5 - Uniform Limited Partnership Act of 2008
ARTICLE 3 - Limited Partners
Section 15903.05.
Universal Citation: CA Corp Code § 15903.05 (2018)
15903.05.
(a) A limited partner does not have any fiduciary duty to the limited partnership or to any other partner solely by reason of being a limited partner.
(b) A limited partner shall discharge the duties to the partnership and the other partners under this chapter or under the partnership agreement and exercise any rights consistently with the obligation of good faith and fair dealing.
(c) A limited partner does not violate a duty or obligation under this chapter or under the partnership agreement merely because the limited partner’s conduct furthers the limited partner’s own interest.
(Added by Stats. 2006, Ch. 495, Sec. 20. Effective January 1, 2007. Section operative January 1, 2008, pursuant to Section 15912.04.)
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