LD 1609
pg. 79
Page 78 of 146 PUBLIC Law Chapter 543 Page 80 of 146
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LR 1469
Item 1

 
C.__The information sought is directly connected to the
limited partner's purpose.

 
3.__Response to demand for information about activities and
financial condition.__Within 10 days after receiving a demand
pursuant to subsection 2, the limited partnership in a record
shall inform the limited partner that made the demand:

 
A.__What information the limited partnership will provide in
response to the demand;

 
B.__When and where the limited partnership will provide the
information; and

 
C.__If the limited partnership declines to provide any
demanded information, the limited partnership's reasons for
declining.

 
4.__Right of dissociated limited partner.__Subject to
subsection 6, a person dissociated as a limited partner may
inspect and copy required information during regular business
hours in the limited partnership's designated office if:

 
A.__The information pertains to the period during which the
person was a limited partner;

 
B.__The person seeks the information in good faith; and

 
C.__The person meets the requirements of subsection 2.

 
5.__Response to demand by dissociated limited partner.__The
limited partnership shall respond to a demand made pursuant to
subsection 4 in the same manner as provided in subsection 3.

 
6.__Death of limited partner.__If a limited partner dies,
section 1384 applies.

 
7.__Reasonable restrictions on use of information.__The
limited partnership may impose reasonable restrictions on the use
of information obtained under this section. In a dispute
concerning the reasonableness of a restriction under this
subsection, the limited partnership has the burden of proving
reasonableness.

 
8.__Reasonable costs of copying.__A limited partnership may
charge a person that makes a demand under this section reasonable
costs of copying, limited to the costs of labor and material.

 
9.__Information provided without demand.__Whenever this
chapter or a partnership agreement provides for a limited partner


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