§1341. Becoming limited partner A person becomes a limited partner: [PL 2005, c. 543, Pt. C, §2 (NEW).] 1. Partnership agreement. As provided in the partnership agreement; [PL 2005, c. 543, Pt. C, §2 (NEW).] 2. Conversion or merger. As the result of a conversion or merger under subchapter 11; or [PL […]
§1342. No right or power as limited partner to bind limited partnership A limited partner does not have the right or the power as a limited partner to act for or bind the limited partnership. [PL 2005, c. 543, Pt. C, §2 (NEW).] SECTION HISTORY PL 2005, c. 543, §C2 (NEW).
§1343. No liability as limited partner for limited partnership obligations An obligation of a limited partnership, whether arising in contract, tort or otherwise, is not the obligation of a limited partner. A limited partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for an obligation of the limited partnership solely […]
§1344. Right of limited partner and former limited partner to information 1. Right to inspect and copy. On 10 days’ demand, made in a record received by the limited partnership, a limited partner may inspect and copy required information during regular business hours in the limited partnership’s principal office. The limited partner need not have […]
§1345. Limited duties of limited partners 1. No fiduciary duty. A limited partner does not have any fiduciary duty to the limited partnership or to any other partner solely by reason of being a limited partner. [PL 2005, c. 543, Pt. C, §2 (NEW).] 2. Good faith and fair dealing. A limited partner shall […]
§1346. Person erroneously believing self to be limited partner 1. Not liable for enterprise’s obligations. Except as otherwise provided in subsection 2, 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 is not liable for the […]
