NRS 88.455

Rights, powers and liabilities

Known as the Uniform Limited Partnership Act

The act spans §§ 88–88 (109 sections).

Applied in 1 court decision — leading case Montana v. Blixseth (In Re Blixseth) (2012)

Most recently applied in Montana v. Blixseth (In Re Blixseth) (December 2012)

(Added to NRS by 1985, 1287)

1. Except as provided in this chapter or in the partnership agreement, a general partner of a limited partnership has the rights and powers and is subject to the restrictions of a partner in a partnership without limited partners.

2. Except as provided in this chapter, 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. Except as provided in this chapter 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: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.