15 Pennsylvania Consolidated Statutes § 8533 - General Powers And Liabilities Of General Partners

§ 8533. General powers and liabilities of general partners.

(a) Powers of a general partner.--Except as otherwise provided in this chapter or in the partnership agreement, a general partner of a limited partnership has the rights and powers and is subject to the restrictions of a partner in a partnership without limited partners.

(b) Liabilities of a general partner.--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 otherwise provided in this chapter or in 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.

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Last modified: October 8, 2016