§425E-113 - Dual capacity.
[§425E-113] Dual capacity.
A person may be both a general partner and a limited partner. A person that is
both a general and limited partner shall have the rights, powers, duties, and
obligations provided by this chapter and the partnership agreement in each of
those capacities. When the person acts as a general partner, the person shall
be subject to the obligations, duties, and restrictions under this chapter and
the partnership agreement for general partners. When the person acts as a
limited partner, the person shall be subject to the obligations, duties, and
restrictions under this chapter and the partnership agreement for limited
partners. [L 2003, c 210, pt of §1]