New Jersey Statutes

§ 42:1A-4 — Agreement governing partners, partnership; prohibited terms

New Jersey·Title 42 PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS

4. a. Except as otherwise provided in subsection b. of this section, relations among the partners and between the partners and the partnership are governed by the partnership agreement. To the extent the partnership agreement does not otherwise provide, this act governs relations among the partners and between the partners and the partnership. b. The partnership agreement shall not:

(1)unreasonably restrict the right of access to books and records under subsection b. of section 23 of this act;
(2)reduce the duty of loyalty under subsection b. of section 24 or subsection b. of section 33 of this act so as to permit a partner to engage in conduct which is intentionally injurious to the partnership;
(3)unreasonably reduce the duty of care under subsection c. of section 24 or paragraph (3)

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