A partner may lend money to and transact other business or not for profit activity with the partnership and has the same rights and obligations with respect to the loan or other transaction as a person that is not a partner.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 8A - Alabama Partnership Law
Article 1 - General Provisions.
Section 10A-8A-1.01 - Short Title.
Section 10A-8A-1.02 - Definitions.
Section 10A-8A-1.03 - Knowledge and Notice.
Section 10A-8A-1.04 - Nature and Purpose.
Section 10A-8A-1.05 - Powers; Indemnification.
Section 10A-8A-1.06 - Governing Law.
Section 10A-8A-1.07 - Supplemental Principles of Law; Rate of Interest.
Section 10A-8A-1.08 - Effect of Partnership Agreement; Nonwaivable Provisions.
Section 10A-8A-1.09 - Partnership Agreement; Effect on Partnership and Persons Admitted as Partners.
Section 10A-8A-1.11 - Required Information.
Section 10A-8A-1.12 - Transactions of Partner With Partnership.