Section 10-9C-113 (Effective January 1, 2010) Dual capacity. - Alabama Statutes

Section 10-9C-113

(Effective January 1, 2010) Dual capacity.

A person may be both a general partner and a limited partner. A person that is both a general and limited partner has the rights, powers, duties, and obligations provided by this chapter and the partnership agreement in each of those capacities. When the person acts as a general partner, the person is subject to the obligations, duties, and restrictions under this chapter and the partnership agreement for general partners. When the person acts as a limited partner, the person is subject to the obligations, duties, and restrictions under this chapter and the partnership agreement for limited partners.

(Act 2009-621, §1.)