Connecticut Statutes
§ 34-21 — Business transactions of partner with partnership.
Connecticut·Title 34 Limited Partnerships, Partnerships, Professional Associations, Limited Liability Companies and Statutory Trusts·Ch. 610 Uniform Limited Partnership Act
Except as provided in the partnership agreement, a partner may lend money to and transact other business with the limited partnership and, subject to other applicable law, has the same rights and obligations with respect thereto as a person who is not a partner.
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Related
Konover v. Tig &8212 Rfa, Inc., No. Cv98-0583516 (Mar. 27, 2001)
2001 Conn. Super. Ct. 4233 (Connecticut Superior Court, 2001)
Legislative History
(1961, P.A. 79, S. 13; P.A. 79-440, S. 6.) History: P.A. 79-440 deleted provisions prohibiting limited partner's receipt of pro rata share of assets on account of claims against partnership unless he is also a general partner, receipt of partnership property, receipt of payment, conveyance or release of liability if partnership assets are insufficient to discharge liabilities to those not claiming as general or limited partners, deleted provision which had stated that prohibited conduct “is a fraud on the creditors of the partnership” and inserted instead limitations on loans and transaction of business in general terms.
Nearby Sections
15
§ 34-10a
Execution of certificates.§ 34-10b
Filing requirements.§ 34-10c
Notice.§ 34-13
Name.§ 34-13a
Reservation of name.§ 34-13c
Records to be kept.§ 34-13e
Annual report.