Title 14, Chapter 9A, Section 44
( 14-9A-44)
(a) A limited partner may loan money to and transact other business
with the partnership and, unless he is also a general partner,
receive on account of resulting claims against the partnership, with
general creditors, a pro rata share of the assets. No limited
partner shall in respect to any such claim: (1) Receive or hold as collateral security any partnership
property; or (2) Receive from a general partner or the partnership any payment,
conveyance, or release from liability, if at the time the assets
of the partnership are not sufficient to discharge partnership
liabilities to persons not claiming as general or limited
partners. (b) The receiving of collateral security, or a payment, conveyance,
or release in violation of subsection (a) of this Code section is a
fraud on the creditors of the partnership. |