§425E-402 - General partner is an agent of the limited partnership.
[§425E-402] General partner is anagent of the limited partnership. (a) Each general partner shallbe an agent of the limited partnership for the purposes of its activities. Anact of a general partner, including the signing of a record in the partnership'sname, for apparently carrying on in the ordinary course the limitedpartnership's activities or activities of the kind carried on by the limitedpartnership binds the limited partnership, unless the general partner did nothave authority to act for the limited partnership in the particular matter andthe person with which the general partner was dealing knew, had received anotification, or had notice under section 425E-103(d) that the general partnerlacked authority.
(b) An act of a general partner which is notapparently for carrying on in the ordinary course the limited partnership'sactivities or activities of the kind carried on by the limited partnershipbinds the limited partnership only if the act was actually authorized by allthe other partners. [L 2003, c 210, pt of §1]