Section 23-16-2-8 - Business transactions of partner with partnership(a) Except as provided in the partnership agreement, a partner may: (3) act as guarantor or surety for;(4) provide collateral for the obligations of; and(5) transact other business; with the limited partnership.
(b) Except as provided in the partnership agreement, and subject to other applicable law, a partner has the same rights and obligations with respect to the limited partnership as a person who is not a partner.As added by P.L. 147-1988, SEC.1.