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2019 Indiana Code
Title 23. Business and Other Associations
Article 16. Limited Partnerships
Chapter 5. General Partners
23-16-5-3. General powers and liabilities
Universal Citation: IN Code § 23-16-5-3 (2019)
IC 23-16-5-3 General powers and liabilities
Sec. 3. (a) Except as provided in this article or in the partnership agreement, a general partner of a limited partnership has the rights and powers of, and is subject to the restrictions of, a partner in a partnership without limited partners.
(b) Except as provided in this article, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to persons other than the partnership and the other partners.
(c) Except as provided in this article or in the partnership agreement, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to the partnership and to the other partners.
As added by P.L.147-1988, SEC.1.
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