[§425E-306]  Person erroneously
believing self to be a limited partner.  (a)  Except as otherwise
provided in subsection (b), a person that makes an investment in a business
enterprise and erroneously but in good faith believes that the person has
become a limited partner in the enterprise shall not be liable for the
enterprise's obligations by reason of making the investment, receiving
distributions from the enterprise, or exercising any rights of or appropriate
to a limited partner, if, on ascertaining the mistake, the person:



(1)  Causes an appropriate certificate of limited
partnership, amendment, or certificate of correction to be signed and delivered
to the director for filing; or



(2)  Withdraws from future participation as an owner
in the enterprise by signing and delivering to the director for filing a
statement of withdrawal under this section.



(b)  A person that makes an investment
described in subsection (a) shall be liable to the same extent as a general
partner to any third party that enters into a transaction with the enterprise,
believing in good faith that the person is a general partner, before a
statement of withdrawal, certificate of limited partnership, amendment, or
certificate of correction is filed with the director to show that the person is
not a general partner.



(c)  If a person makes a diligent effort in
good faith to comply with subsection (a)(1) and is unable to cause the
appropriate certificate of limited partnership, amendment, or certificate of
correction to be signed and delivered to the director for filing, the person
has the right to withdraw from the enterprise pursuant to subsection (a)(2)
even if the withdrawal would otherwise breach an agreement with others that are
or have agreed to become co-owners of the enterprise. [L 2003, c 210, pt of §1]