Title 14, Chapter 9A, Section 70
( 14-9A-70)
A general partner shall have all the rights and powers and be
subject to all the restrictions and liabilities of a partner in a
partnership without limited partners, except that without the
written consent or ratification of the specific act by all the
limited partners, a general partner or all of the general partners
have no authority to: (1) Do any act in contravention of the certificate required under Code Section 14-9A-20; (2) Do any act which would make it impossible to carry on the
ordinary business of the partnership; (3) Confess a judgment against the partnership; (4) Possess partnership property, or assign their rights in
specific partnership property, for other than a partnership
purpose; (5) Admit a person as a general partner, unless the partnership
agreement provides otherwise; (6) Admit a person as a limited partner, unless the right so to do
is given in the certificate; (7) Continue the business with partnership property on the death,
retirement, or insanity of a general partner, unless the right so
to do is given in the certificate. |