Current through 2024 Legislative Session
Section 45-10.2-39 - (403) Limited partnership liable for actionable conduct of general partner1. A limited partnership is liable for loss or injury caused to a person, or for a penalty incurred, as a result of a wrongful act or omission, or other actionable conduct, of a general partner acting in the ordinary course of activities of the limited partnership or with authority of the limited partnership.2. If, in the course of the activities of the limited partnership or while acting with authority of the limited partnership, a general partner receives or causes the limited partnership to receive money or property of a person not a partner, and the money or property is misapplied by a general partner, then the limited partnership is liable for the loss.