Oklahoma Statutes
§ 54-500-305A — Limited duties of limited partners.
Oklahoma·Title 54 Partnership
LIMITED DUTIES OF LIMITED PARTNERS.
(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 the Uniform Limited Partnership Act of 2010 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 the Uniform Limited Partnership Act of 2010 or under the partnership agreement merely because the limited partner’s conduct furthers the limited partner’s own interest.
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Legislative History
Added by Laws 2010, c. 384, § 33, eff. Jan. 1, 2011.
Nearby Sections
15
§ 54-1
Repealed§ 54-1-100
Short title.§ 54-1-1002
Name.§ 54-1-101
Definitions.§ 54-1-102
Knowledge and Notice.§ 54-1-104
Supplemental Principles of Law.§ 54-1-106
Governing Law.§ 54-1-1102
Statement Of Foreign Qualification.§ 54-1-1103
Effect Of Failure To Qualify.