§ 7-62-404 — Contributions by a general partner

A general partner of a
limited partnership may make contributions to the partnership and share in the
profits and losses of, and in distributions from, the limited partnership as a general
partner. A general partner also may make contributions to and share in profits,
losses, and distributions as a limited partner. A person who is both a general
partner and a limited partner has the rights and powers, and is subject to the
restrictions and liabilities, of a general partner and, except as provided in the
partnership agreement, also has the powers, and is subject to the restrictions, of a
limited partner to the extent of the person's participation in the partnership as a
limited partner.

Legislative History

Source: L. 81: Entire article added, p. 443, � 1, effective November 1. L. 2004: Entire section amended, p. 1443, � 134, effective July 1.