A person may be both a general partner and a limited partner in a limited partnership if his interests are separately designated in the partnership agreement. A person who is both a general partner and a limited partner has the rights and powers and is subject to the restrictions and liabilities of a general partner and, except as provided in the partnership agreement, also has the rights and powers and is subject to the restrictions and liabilities, if any, of a limited partner to the extent of his participation in the partnership as a limited partner.
History. Code 1981, § 14-9-404 , enacted by Ga. L. 1988, p. 1016, § 1.
Structure Georgia Code
Title 14 - Corporations, Partnerships, and Associations
Chapter 9 - Revised Uniform Limited Partnership Act
§ 14-9-401. Admission of Additional General Partners
§ 14-9-403. Rights, Powers, and Liabilities Generally
§ 14-9-404. Rights, Powers, and Liabilities of General Partner Who Is Also Limited Partner
§ 14-9-405. Voting Rights; Additional Rights, Powers, and Duties