Code of Virginia - Title 50 Partnerships - Section 50-73.29 General powers and liabilities

§ 50-73.29. General powers and liabilities

A. Except as provided in this chapter or in the partnership agreement, a general partner of a limited partnership 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 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.

(1985, c. 607.)

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Last modified: April 3, 2009