§425E-407  Right of general partner and formergeneral partner to information.  (a)  [Subsection effectiveuntil June 30, 2010.  For subsection effective July 1, 2010, see below.]  Ageneral partner, without having any particular purpose for seeking the information,may inspect and copy during regular business hours:

(1)  In the limited partnership's designated office,required information; and

(2)  At a reasonable location specified by the limitedpartnership, any other records maintained by the limited partnership regardingthe limited partnership's activities and financial condition.

(a)  [Subsection effective July 1, 2010.  Forsubsection effective until June 30, 2010, see above.]  A general partner,without having any particular purpose for seeking the information, may inspectand copy during regular business hours:

(1)  In the limited partnership's principal office,required information; and

(2)  At a reasonable location specified by the limitedpartnership, any other records maintained by the limited partnership regardingthe limited partnership's activities and financial condition.

(b)  Each general partner and the limitedpartnership shall furnish to a general partner:

(1)  Without demand, any information concerning thelimited partnership's activities and activities reasonably required for theproper exercise of the general partner's rights and duties under thepartnership agreement or this chapter; and

(2)  On demand, any other information concerning thelimited partnership's activities, except to the extent the demand or theinformation demanded is unreasonable or otherwise improper under thecircumstances.

(c)  Subject to subsection (e), within ten daysof a demand made in a record received by the limited partnership, a persondissociated as a general partner may have access to the information and recordsdescribed in subsection (a) at the location specified in subsection (a) if:

(1)  The information or record pertains to the periodduring which the person was a general partner;

(2)  The person seeks the information or record ingood faith; and

(3)  The person satisfies the requirements imposed ona limited partner by section 425E-304(b).

(d)  The limited partnership shall respond to ademand made pursuant to subsection (c) in the same manner as provided insection 425E-304(c).

(e)  If a general partner dies, section425E-704 applies.

(f)  The limited partnership may imposereasonable restrictions on the use of information under this section.  In anydispute concerning the reasonableness of a restriction under this subsection,the limited partnership shall bear the burden of proving reasonableness.

(g)  A limited partnership may charge a persondissociated as a general partner that makes a demand under this sectionreasonable costs of copying, limited to the costs of labor and material.

(h)  A general partner or person dissociated asa general partner may exercise the rights under this section through anattorney or other agent.  Any restriction imposed under subsection (f) or bythe partnership agreement shall apply both to the attorney or other agent andto the general partner or person dissociated as a general partner.

(i)  The rights under this section shall notextend to a person as transferee, but the rights under subsection (c) of aperson dissociated as a general partner may be exercised by the legalrepresentative of an individual who dissociated as a general partner undersection 425E-603(7)(B) or (C). [L 2003, c 210, pt of §1; am L 2009, c 55, §47]