State Codes and Statutes

Statutes > Connecticut > Title34 > Chap610 > Sec34-20

      Sec. 34-20. Contributions and sharing in profits, losses and distributions by general partners. Rights, powers, restrictions and liabilities of general partners who are also limited partners. A general partner of a limited partnership may make contributions to the partnership and share in the profits and losses of, and in distributions from, the limited partnership as a general partner. A general partner also may make contributions to and share in profits, losses, and distributions as a limited partner. A person who is both a general partner and a limited partner shall have all the rights and powers and be subject to all the restrictions and liabilities of a general partner and, except as provided in the partnership agreement, shall also have the powers, and is subject to the restrictions of a limited partner to the extent of his participation in the partnership as a limited partner.

      (1961, P.A. 79, S. 12; P.A. 79-440, S. 24.)

      History: P.A. 79-440 rephrased previous provisions.

      Cited. 43 CA 801.