(a) Except as otherwise provided in subsection (b), a limited partner does not have any 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 limited partnership and the other partners under the partnership agreement and exercise any rights under this chapter or the partnership agreement consistently with the implied contractual covenant of good faith and fair dealing.
(c) A limited partner does not violate a duty or obligation under this chapter or under the partnership agreement merely because the limited partner's conduct furthers the limited partner's own interest.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 9A - Alabama Limited Partnership Law.
Section 10A-9A-3.01 - Admission of Limited Partner.
Section 10A-9A-3.02 - No Right or Power as Limited Partner to Bind Limited Partnership.
Section 10A-9A-3.03 - No Liability as Limited Partner for Limited Partnership Obligation.
Section 10A-9A-3.04 - Right of Limited Partner and Former Limited Partner to Information.
Section 10A-9A-3.05 - Limited Duties of Limited Partners.
Section 10A-9A-3.06 - Person Erroneously Believing Self to Be Limited Partner.