Except as provided in the partnership agreement, a partner may lend money to and transact other business with the limited partnership and, subject to other applicable law, has the same rights and obligations with respect thereto as a person who is not a partner.
A.R.S. § 29-307
Business transactions of partner with partnership
Applied in 2 court decisions — leading case Wood v. Holiday Mobile Home Resorts, Inc. (1980)
Most recently applied in Bjerke v. United States (September 1987)
Official source: Arizona State Legislature. Reproduced from public-domain Arizona statutes; confirm against the official source for the current text. Not legal advice.