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Ind. Code § 23-16-5-3

General powers and liabilities

Applied in 2 court decisions — leading case Bell v. Clark (1996)

Most recently applied in Vodafone Americas Inc. v. Indiana Department of State Revenue (June 2013)

As added by P.L.147-1988, SEC.1.

Sec. 3. (a) Except as provided in this article or in the partnership agreement, a general partner of a limited partnership has the rights and powers of, and is subject to the restrictions of, a partner in a partnership without limited partners.

(b) Except as provided in this article, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to persons other than the partnership and the other partners.

(c) Except as provided in this article or in the partnership agreement, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to the partnership and to the other partners.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.