Utah Code § 48-2e-116

Current through the 2024 Fourth Special Session
Section 48-2e-116 - Dual capacity

A person may be both a general partner and a limited partner. A person that is both a general and limited partner has the rights, powers, duties, and obligations provided by this chapter and the partnership agreement in each of those capacities. When the person acts as a general partner, the person is subject to the obligations, duties, and restrictions under this chapter and the partnership agreement for general partners. When the person acts as a limited partner, the person is subject to the obligations, duties, and restrictions under this chapter and the partnership agreement for limited partners.

Utah Code § 48-2e-116

Added by Chapter 412, 2013 General Session ,§ 163, eff. 1/1/2014.