New Jersey § 42:2A-32 General powers and liabilities

New Jersey Statutes

§ 42:2A-32 — General powers and liabilities

New Jersey § 42:2A-32

Title 42PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS

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Bluebook

N.J. Stat. Ann. § 42:2A-32 (2026).

Text

General powers and liabilities.

a.Except as expressly provided in this chapter, a general partner of a limited partnership is subject to the restrictions of a partner in a partnership without limited partners and except as provided in this chapter or in the partnership agreement has the rights and powers of a partner in a partnership without limited partners.

b.Except as provided in this chapter, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to persons other than the partnership and the other partners. Except as provided in this chapter or the partnership agreement, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to the partnership and to the other

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General powers and liabilities. a. Except as expressly provided in this chapter, a general partner of a limited partnership is subject to the restrictions of a partner in a partnership without limited partners and except as provided in this chapter or in the partnership agreement has the rights and powers of a partner in a partnership without limited partners. b. Except as provided in this chapter, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to persons other than the partnership and the other partners. Except as provided in this chapter or the partnership agreement, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to the partnership and to the other partners. L. 1983, c. 489, s. 31, eff. April 1, 1985.