LD 1609
pg. 84
Page 83 of 146 PUBLIC Law Chapter 543 Page 85 of 146
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LR 1469
Item 1

 
A.__A judgment based on the same claim has been obtained
against the limited partnership and a writ of execution on the
judgment has been returned unsatisfied in whole or in part;

 
B.__The limited partnership is a debtor in bankruptcy;

 
C.__The general partner has agreed that the creditor need
not exhaust limited partnership assets;

 
D.__A court grants permission to the judgment creditor to
levy execution against the assets of a general partner based
on a finding that limited partnership assets subject to
execution are clearly insufficient to satisfy the judgment,
that exhaustion of limited partnership assets is excessively
burdensome or that the grant of permission is an appropriate
exercise of the court's equitable powers; or

 
E.__Liability is imposed on the general partner by law or
contract independent of the existence of the limited
partnership.

 
§1356.__Management rights of general partner

 
1.__General partner or partners.__Each general partner has
equal rights in the management and conduct of the limited
partnership's activities. Except as expressly provided in this
chapter, any matter relating to the activities of the limited
partnership may be exclusively decided by the general partner or,
if there is more than one general partner, by a majority of the
general partners.

 
2.__Consent required.__The consent of each partner is
necessary to:

 
A.__Amend the partnership agreement;

 
B.__Amend the certificate of limited partnership to add or,
subject to section 1440, delete a statement that the limited
partnership is a limited liability limited partnership; and

 
C.__Sell, lease, exchange or otherwise dispose of all, or
substantially all, of the limited partnership's property,
with or without the good will, other than in the usual and
regular course of the limited partnership's activities.

 
3.__Payments by and liabilities of general partner.__A limited
partnership shall reimburse a general partner for payments made
and indemnify a general partner for liabilities


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