2021 New Mexico Statutes
Article 3 - Limited Partners
Section 54-2A-305 - Limited duties of limited partners.

A. A limited partner does not have any fiduciary duty to the limited partnership or to any other partner solely by reason of being a limited partner.
B. A limited partner shall discharge the duties to the partnership and the other partners pursuant to the Uniform Revised Limited Partnership Act or pursuant to the partnership agreement and exercise any rights consistently with the obligation of good faith and fair dealing.
C. A limited partner does not violate a duty or obligation pursuant to the Uniform Revised Limited Partnership Act or pursuant to the partnership agreement merely because the limited partner's conduct furthers the limited partner's own interest.
History: Laws 2007, ch. 129, § 305.
Effective dates. — Laws 2007, ch. 129, § 1208 made the section effective January 1, 2008.

Structure 2021 New Mexico Statutes