2013 New Jersey Revised Statutes
Title 42 - PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS
Section 42:2A-32 - General powers and liabilities


NJ Rev Stat § 42:2A-32 (2013) What's This?

42:2A-32. General powers and liabilities
General powers and liabilities. a. Except as expressly provided in this chapter, a general partner of a limited partnership is subject to the restrictions of a partner in a partnership without limited partners and except as provided in this chapter or in the partnership agreement has the rights and powers of a partner in a partnership without limited partners.

b. Except as provided in this chapter, 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. Except as provided in this chapter or the partnership agreement, a general partner in a partnership without limited partners to the partnership and to the other partners.

L. 1983, c. 489, s. 31, eff. April 1, 1985.


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