Arizona Revised Statutes § 29-314 Liability For False Statement In Certificate

29-314. Liability for false statement in certificate

If any certificate of limited partnership or certificate of amendment, restated certificate of limited partnership or certificate of cancellation contains a false statement, one who suffers loss by reliance on the statement may recover damages for the loss from:

1. Any person who executes the certificate, or causes another to execute it on his behalf, and knew, and any general partner who knew or should have known, the statement to be false at the time the certificate was executed; and

2. Any general partner who thereafter knows or should have known that any arrangement or other fact described in the certificate has changed, making the statement inaccurate in any respect within a sufficient time before the statement was relied upon reasonably to have enabled that general partner to cancel or amend the certificate, or to file a petition for execution of certificate under section 29-312.

Section: Previous  29-307  29-308  29-309  29-310  29-311  29-312  29-313  29-314  29-315  29-316  29-317  29-318  29-319  29-320  29-321  Next

Last modified: October 13, 2016