48-2a-207 - Liability for false statement in certificate. - Utah Statutes

48-2a-207. Liability for false statement in certificate.
If any certificate of limited partnership or certificate of amendment or cancellationcontains a false statement, one who suffers loss by reasonable reliance on the statement mayrecover damages for the loss from:
(1) any person who executed the certificate, whether in his own name or on behalf ofanother as attorney-in-fact, who knew, or reasonably should have known, that the statement wasfalse at the time the certificate was executed; and
(2) any general partner who at any time knew, or reasonably should have known, that thestatement was false at the time the certificate was executed or knew or reasonably should haveknown that any arrangement or other fact described in the certificate had changed, making thestatement inaccurate in any respect, if that general partner failed to cancel or amend thecertificate, or to file a petition for its cancellation or amendment under Section 48-2a-202 or48-2a-203, within 30 days of the date on which the general partner knew, or reasonably shouldhave known, that the statement was false or that the change had occurred.

Amended by Chapter 30, 1992 General Session