Section 10-9B-107 Business transactions of partner with partnership. - Alabama Statutes

Section 10-9B-107

Business transactions of partner with partnership.

REPEALED IN THE 2009 REGULAR SESSION BY ACT 2009-621, EFFECTIVE JANUARY 1, 2010. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.

Except as provided in the partnership agreement, a partner may lend money to and transact other business with the limited partnership and, subject to other applicable law, has the same rights and obligations with respect thereto as a person who is not a partner.

(Act 97-921, 1st Ex. Sess., p. 335, §1.)