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Code · New Jersey · Title 42 — Recreation and Sports · Chapter 2A

42:2A-32. General powers and liabilities

142 words·~1 min read·/nj/title-42/chapter-2a/42-2a-32

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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 of a limited partnership has the liabilities of a 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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