§425E-305 - Limited duties of limited partners.
[§425E-305] Limited duties oflimited partners. (a) A limited partner shall not have anyfiduciary duty to the limited partnership or to any other partner solely byreason of being a limited partner.
(b) A limited partner shall discharge theduties to the partnership and the other partners under this chapter or underthe partnership agreement and exercise any rights consistently with theobligation of good faith and fair dealing.
(c) A limited partner does not violate a dutyor obligation under this chapter or under the partnership agreement merelybecause the limited partner's conduct furthers the limited partner's owninterest. [L 2003, c 210, pt of §1]