State Codes and Statutes

Statutes > New-jersey > Title-42 > Section-42-2a > 42-2a-32

42:2A-32.    General powers and liabilities
    General powers and liabilities.  a.  Except as expressly provided in this chapter, a general partner of a limited partnership is subject to the restrictions of a partner in a partnership without limited partners and except as provided in this chapter or in the partnership agreement has the rights and powers of a partner in a partnership without limited partners.

   b.   Except as provided in this chapter, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to persons other than the partnership and the other partners.  Except as provided in this chapter or the partnership agreement, a general partner in a partnership without limited partners to the partnership and to the other partners.

   L. 1983, c. 489, s. 31, eff. April 1, 1985.