Legislation
SECTION 121-108
Business transactions of partner with the partnership
Partnership (PTR) CHAPTER 39, ARTICLE 8-A
§ 121-108. Business transactions of partner with the partnership.
Except as may be provided in the partnership agreement, a partner may
lend money to, borrow money from, act as a guarantor or surety for,
provide collateral for the obligations of, and transact other business
with the limited partnership, and, subject to other applicable law, has
the same rights and obligations with respect thereto as a person who is
not a partner.
Except as may be provided in the partnership agreement, a partner may
lend money to, borrow money from, act as a guarantor or surety for,
provide collateral for the obligations of, and transact other business
with the limited partnership, and, subject to other applicable law, has
the same rights and obligations with respect thereto as a person who is
not a partner.