§425-103  Effect of partnership agreement;
nonwaivable provisions.  (a)  Except as otherwise provided in subsection
(b), relations among the partners and between the partners and the partnership
are governed by the partnership agreement.  To the extent the partnership
agreement does not otherwise provide, this part governs relations among the
partners and between the partners and the partnership.



(b)  The partnership agreement shall not:



(1)  Vary the rights and duties under section 425-105
except to eliminate the duty to provide copies of statements to all of the
partners;



(2)  Unreasonably restrict the right of access to
books and records under section 425-122(b);



(3)  Eliminate the duty of loyalty under section
425-123(b) or 425-132(b)(3), but:



(A)  The partnership agreement may identify
specific types or categories of activities that do not violate the duty of
loyalty, if not manifestly unreasonable; or



(B)  All of the partners or a number or
percentage specified in the partnership agreement may authorize or ratify,
after full disclosure of all material facts, a specific act or transaction that
otherwise would violate the duty of loyalty;



(4)  Unreasonably reduce the duty of care under
section 425-123(c) or 425-132(b)(3);



(5)  Eliminate the obligation of good faith and fair
dealing under section 425-123(d), but the partnership agreement may prescribe
the standards by which the performance of the obligation is to be measured, if
the standards are not manifestly unreasonable;



(6)  Vary the power to dissociate as a partner under
section 425-131(a), except to require the notice under section 425-130(1) to be
in writing;



(7)  Vary the right of a court to expel a partner in
the events specified in section 425-130(5);



(8)  Vary the requirement to wind up the partnership
business in cases specified in section 425-138(4), (5), or (6); or



(9)  Restrict rights of third parties under this part.
[L 1999, c 284, pt of §1; am L 2000, c 218, §4]