620.1402 General partner agent of limited partnership.—
(1) Each general partner is an agent of the limited partnership for the purposes of its activities. An act of a general partner, including the signing of a record in the partnership’s name, for apparently carrying on in the ordinary course the limited partnership’s activities or activities of the kind carried on by the limited partnership binds the limited partnership, unless the general partner did not have authority to act for the limited partnership in the particular matter and the person with which the general partner was dealing knew, had received a notification, or had notice under s. 620.1103(4) that the general partner lacked authority.
(2) An act of a general partner which is not apparently for carrying on in the ordinary course the limited partnership’s activities or activities of the kind carried on by the limited partnership binds the limited partnership only if the act was approved by the other partners as provided in s. 620.1406.
History.—s. 17, ch. 2005-267.
Section: Previous 620.1301 620.1302 620.1303 620.1304 620.1305 620.1306 620.1401 620.1402 620.1403 620.1404 620.1405 620.1406 620.1407 620.1408 620.1501 NextLast modified: September 23, 2016