Maine Revised Statutes
Subchapter 4: GENERAL PARTNERS
31 §1353. Limited partnership liable for general partner's actionable conduct

§1353. Limited partnership liable for general partner's actionable conduct
1.  General partner acting in ordinary course or with authority.  A limited partnership is liable for loss or injury caused to a person, or for a penalty incurred, as a result of a wrongful act or omission or other actionable conduct of a general partner acting in the ordinary course of activities of the limited partnership or with authority of the limited partnership.  
[PL 2005, c. 543, Pt. C, §2 (NEW).]
2.  Misapplication of money or property by general partner.  If, in the course of the limited partnership's activities or while acting with authority of the limited partnership, a general partner receives or causes the limited partnership to receive money or property of a person not a partner, and the money or property is misapplied by a general partner, the limited partnership is liable for the loss.  
[PL 2005, c. 543, Pt. C, §2 (NEW).]
SECTION HISTORY
PL 2005, c. 543, §C2 (NEW).

Structure Maine Revised Statutes