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  • SECTION 121-107
    Nature of business
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  • ARTICLE 8-A
    Revised Limited Partnership Act
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  • SECTION 121-109
    Service of process on limited partnerships
    • This entry was published on 2014-09-22
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    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.