A partnership agreement may provide that (1) a general partner who fails to perform in accordance with, or to comply with the terms and conditions of, the partnership agreement shall be subject to specified penalties or specified consequences, and (2) at the time or upon the happening of events specified in the partnership agreement, a general partner shall be subject to specified penalties or specified consequences. Such specified penalties or specified consequences may include and take the form of any penalty or consequence set forth in § 17-502(c) of this title.
Del. Code tit. 6, §§ 17-406
Remedies for breach of partnership agreement by general partner
Known as the Delaware Revised Uniform Limited Partnership Act
The act spans §§ 6-17-1001 to 6-17-912 (111 sections).
67 Del
Official source: Delaware Code Online. Reproduced from public-domain Delaware statutes; confirm against the official source for the current text. Not legal advice.