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2019 Indiana Code
Title 23. Business and Other Associations
Article 16. Limited Partnerships
Chapter 7. Distributions and Withdrawals
23-16-7-2. Withdrawal of general partner
Universal Citation: IN Code § 23-16-7-2 (2019)
IC 23-16-7-2 Withdrawal of general partner
Sec. 2. A general partner may withdraw from a limited partnership at any time by giving written notice to the other partners. However, if the general partner's withdrawal violates the partnership agreement, the limited partnership may recover from the withdrawing general partner damages for breach of the partnership agreement and may offset the damages against the amount otherwise distributable to the withdrawing general partner in addition to any remedies otherwise available under applicable law.
As added by P.L.147-1988, SEC.1.
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