LD 1609
pg. 78
Page 77 of 146 PUBLIC Law Chapter 543 Page 79 of 146
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LR 1469
Item 1

 
2.__Conversion or merger.__As the result of a conversion or
merger under subchapter 11; or

 
3.__Consent.__With the consent of all the partners.

 
§1342.__No right or power as limited partner to bind limited

 
partnership

 
A limited partner does not have the right or the power as a
limited partner to act for or bind the limited partnership.

 
§1343.__No liability as limited partner for limited partnership

 
obligations

 
An obligation of a limited partnership, whether arising in
contract, tort or otherwise, is not the obligation of a limited
partner. A limited partner is not personally liable, directly or
indirectly, by way of contribution or otherwise, for an
obligation of the limited partnership solely by reason of being a
limited partner, even if the limited partner participates in the
management and control of the limited partnership.

 
§1344.__Right of limited partner and former limited partner to

 
information

 
1.__Right to inspect and copy.__On 10 days' demand, made in a
record received by the limited partnership, a limited partner may
inspect and copy required information during regular business
hours in the limited partnership's designated office. The limited
partner need not have any particular purpose for seeking the
information.

 
2.__Right to information about activities and financial
condition.__During regular business hours and at a reasonable
location specified by the limited partnership, a limited partner
may obtain from the limited partnership and inspect and copy true
and full information regarding the state of the activities and
financial condition of the limited partnership and other
information regarding the activities of the limited partnership
as is just and reasonable if:

 
A.__The limited partner seeks the information for a purpose
reasonably related to the partner's interest as a limited
partner;

 
B.__The limited partner makes a demand in a record received
by the limited partnership, describing with reasonable
particularity the information sought and the purpose for
seeking the information; and


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