State Codes and Statutes
Statutes > Alabama > Title10 > Chapter9B > 10-9B-403Section 10-9B-403
General powers and liabilities.
REPEALED IN THE 2009 REGULAR SESSION BY ACT 2009-621, EFFECTIVE JANUARY 1, 2010. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
(a) Except as provided in this chapter or in the partnership agreement, a general partner of a limited partnership has the rights and powers and is subject to the restrictions of a partner in a partnership without limited partners.
(b) Except as provided in this chapter, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to persons other than the partnership and the other partners. Except as provided in this chapter or in the partnership agreement, a general partner of a limited partnership has the liabilities of a partner to a partnership without limited partners to the partnership and to the other partners.
(Act 97-921, 1st Ex. Sess., p. 335, §1.)