Ala. Code § 10A-9A-1.13

Current with legislation from 2024 effective through July 1, 2024.
Section 10A-9A-1.13 - Dual capacity

A person may be both a general partner and a limited partner. A person that is both a general and limited partner has the rights, powers, duties, and obligations provided by this chapter and the partnership agreement in each of those capacities. When the person acts as a general partner, the person is subject to the obligations, duties, and restrictions under this chapter and the partnership agreement for general partners. When the person acts as a limited partner, the person is subject to the obligations, duties, and restrictions under this chapter and the partnership agreement for limited partners.

Ala. Code § 10A-9A-1.13 (1975)

Added by Act 2016-379,§ 1, eff. 1/1/2017.