Arkansas Statutes
§ 4-47-305 — Limited duties of limited partners
Arkansas·Title 4
(a)A limited partner does not have any fiduciary duty to the limited partnership or to any other partner solely by reason of being a limited partner.
(b)A limited partner shall discharge the duties to the partnership and the other partners under this chapter or under the partnership agreement and exercise any rights consistently with the obligation of good faith and fair dealing.
(c)A limited partner does not violate a duty or obligation under this chapter or under the partnership agreement merely because the limited partner's conduct furthers the limited partner's own interest.
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Related
Squire Court Partners Ltd. v. Centerline Credit Enhanced Partners LP (In re Squire Court Partners Ltd.)
574 B.R. 701 (E.D. Arkansas, 2017)
Legislative History
Acts 2007, No. 15, § 1.
Nearby Sections
15
§ 4-1-101
Short titles§ 4-1-102
Scope of subtitle§ 4-1-104
Construction against implicit repeal§ 4-1-105
Severability§ 4-1-106
Use of singular and plural - Gender§ 4-1-107
Section captions§ 4-1-201
General definitions§ 4-1-202
Notice - Knowledge§ 4-1-204
Value§ 4-1-205
Reasonable time - Seasonableness§ 4-1-206
Presumptions