Except as provided in the partnership agreement, a partner may lend money to, borrow money from, act as a surety, guarantor or endorser for, guarantee or assume one (1) or more specific obligations of, provide collateral for, 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.
Tenn. Code Ann. § 61-2-108
Rights and obligations of partner
Known as the Tennessee Uniform Limited Partnership Act
The act spans §§ 61-2-1001 to 61-3-906 (205 sections).
Acts 1988, ch. 922, § 1; 1989, ch. 270, § 9.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.