79-14-404 - Contributions by a general partner. - Mississippi Statutes

§ 79-14-404. Contributions by a general partner.
 

A general partner of a limited partnership may make contributions to the limited partnership and share in the profits and losses of, and in distributions from, the limited partnership as a general partner. A general partner also may make contributions to and share in profits, losses, and distributions as a limited partner. A person who is both a general partner and a limited partner has the rights and powers, and is subject to the restrictions and liabilities, of a general partner and, except as provided in the partnership agreement, also has the powers, and is subject to the restrictions, of a limited partner to the extent of his participation in the limited partnership as a limited partner. 
 

Sources: Laws,  1987, ch. 488, § 404, eff from and after January 1, 1988.