A person may be both a general partner and a limited partner. A person that is both a general and limited partner has the rights, powers, duties, and obligations provided by this chapter and the partnership agreement in each of those capacities. When the person acts as a general partner, the person is subject to the obligations, duties, and restrictions under this chapter and the partnership agreement for general partners. When the person acts as a limited partner, the person is subject to the obligations, duties, and restrictions under this chapter and the partnership agreement for limited partners.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 9A - Alabama Limited Partnership Law.
Article 1 - General Provisions.
Section 10A-9A-1.01 - Short Title.
Section 10A-9A-1.02 - Definitions.
Section 10A-9A-1.03 - Knowledge and Notice.
Section 10A-9A-1.04 - Nature and Purpose.
Section 10A-9A-1.05 - Powers; Indemnification.
Section 10A-9A-1.06 - Governing Law.
Section 10A-9A-1.07 - Supplemental Principles of Law; Rate of Interest.
Section 10A-9A-1.08 - Effect of Partnership Agreement; Nonwaivable Provisions.
Section 10A-9A-1.11 - Required Information.
Section 10A-9A-1.12 - Transactions of Partner With Partnership.