359.151. Liability for false statement in certificate. - Missouri Statutes

Liability for false statement in certificate.

359.151. If any certificate of limited partnership orcertificate of amendment or cancellation contains a falsestatement, one who suffers loss by reliance on the statement mayrecover damages for the loss from:

(1) Any person who executes the certificate, or causesanother to execute it on his behalf, and knew, and any generalpartner who knew or should have known, the statement to be falseat the time the certificate was executed; and

(2) Any general partner who thereafter knows or should haveknown that any arrangement or other fact described in thecertificate has changed, making the statement inaccurate in anyrespect within a sufficient time before the statement was reliedupon reasonably to have enabled that general partner to cancel oramend the certificate, or to file a petition for its cancellationor amendment under section 359.131.

(L. 1985 H.B. 512 & 650)

Effective 1-1-87