359.261. Contributions of a general partner--one person both a general and limited partner. - Missouri Statutes

Contributions of a general partner--one person both a generaland limited partner.

359.261. A general partner of a limited partnership may makecontributions to the partnership and share in the profits andlosses of, and in distributions from, the limited partnership asa general partner. A general partner also may make contributionsto and share in profits, losses, and distributions as a limitedpartner. A person who is both a general partner and a limitedpartner has the rights and powers, and is subject to therestrictions and liabilities, of a general partner and, except asprovided in the partnership agreement, also has the powers, andis subject to the restrictions, of a limited partner to theextent of his participation in the partnership as a limitedpartner.

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

Effective 1-1-87