50-73.30 - Contributions by general partner. - Virginia Statutes

§ 50-73.30. Contributions by general partner.

A general partner of a limited partnership may make contributions to thepartnership and share in the profits and losses of, and in distributionsfrom, the limited partnership as a general partner. A general partner alsomay make contributions to and share in profits, losses, and distributions asa limited partner. A person who is both a general partner and a limitedpartner has the rights and powers, and is subject to the restrictions andliabilities, of a general partner and, except as provided in the partnershipagreement, also has the powers, and is subject to the restrictions, of alimited partner to the extent of his participation in the partnership as alimited partner.

(1985, c. 607.)