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Code · Vermont · Title 11 — Corporations, Partnerships and Associations · Chapter 23

§ 3433.

131 words·~1 min read·/vt/title-11/chapter-23/3433

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§ 3433. General powers and liabilities
(a)Except as provided in this chapter or in the partnership agreement, a general partner of a limited partnership has the rights and powers and is subject to the restrictions 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 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. (Added 1997, No. 149 (Adj. Sess.), § 4, eff. Jan. 1, 1999.)
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