§ 7-13-14 - Liability for false statement in certificate. - Rhode Island Statutes

SECTION 7-13-14

   § 7-13-14  Liability for false statement incertificate. – If any certificate of limited partnership or certificate of amendment orcancellation contains a false statement, one who suffers loss by reliance onthe statement may recover damages for the loss from:

   (1) Any person who executes the certificate, or causesanother to execute it on his or her behalf, and knew, and any general partnerwho knew or should have known, the statement to be false at the time thecertificate was executed; and

   (2) Any general partner who subsequently knows or should haveknown that any arrangement or other fact described in the certificate haschanged, making the statement inaccurate in any respect within a sufficienttime before the statement was relied upon reasonably to have enabled thatgeneral partner to cancel or amend the certificate, or to file a petition forits cancellation or amendment under § 7-13-12.