There is a newer version
of
this Section
2022 Oklahoma Statutes
Title 54. Partnership
§54-500-305A. Limited duties of limited partners.
Universal Citation: 54 OK Stat § 500-305A (2022)
LIMITED DUTIES OF LIMITED PARTNERS.
(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 the Uniform Limited Partnership Act of 2010 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 the Uniform Limited Partnership Act of 2010 or under the partnership agreement merely because the limited partner’s conduct furthers the limited partner’s own interest.
Added by Laws 2010, c. 384, § 33, eff. Jan. 1, 2011.
Disclaimer: These codes may not be the most recent version. Oklahoma may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
