Current through Register Vol. 49, No. 8, August 19, 2024
Section 322.09 - RIGHTS, POWERS, AND LIABILITIES OF A GENERAL PARTNERA general partner shall have all the rights and powers and be subject to all the restrictions and liabilities of a partner in a partnership without limited partners, except that without the written consent or ratification of the specific act by all the limited partners, a general partner or all of the general partners have no authority to
(1) do any act in contravention of the certificate;(2) do any act which would make it impossible to carry on the ordinary business of the partnership;(3) confess a judgment against the partnership;(4) possess partnership property, or assign their rights in specific partnership property, for other than a partnership purpose;(5) admit a person as a general partner;(6) admit a person as a limited partner unless the right so to do is given in the certificate; or(7) continue the business with partnership property on the death, retirement, or insanity of a general partner, unless the right so to do is given in the certificate.