Tenn. Code Ann. § 61-2-403

Rights and powers — Liabilities

Known as the Tennessee Uniform Limited Partnership Act

The act spans §§ 61–61 (205 sections).

Applied in 3 court decisions — leading case Pioneer Investment Services Co. v. Cain Partnership, Ltd. (In Re Pioneer Investment Services Co.) (1992)

Most recently applied in Taylor v. Bush (In Re Taylor & Associates, L.P.) (March 1997)

Acts 1988, ch. 922, § 1.

(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.

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.