79-14-403 - General powers and liabilities. - Mississippi Statutes

§ 79-14-403. 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 limited 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 limited partnership and to the other partners. 
 

Sources: Laws,  1987, ch. 488, § 403, eff from and after January 1, 1988.