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 and affairs of the partnership or with the actual or apparent authority of the partnership.
If, in the course of a limited partnership's activities and affairs or while acting with actual or apparent authority of the partnership, a general partner receives or causes the partnership to receive money or property of a person not a partner, and the money or property is misapplied by a general partner, the partnership is liable for the loss.
Structure Mississippi Code
Title 79 - Corporations, Associations, and Partnerships
Chapter 14 - Mississippi Uniform Limited Partnership Act
§ 79-14-401. Becoming general partner
§ 79-14-402. General partner agent of limited partnership
§ 79-14-403. Limited partnership liable for general partner's actionable conduct
§ 79-14-404. General partner's liability
§ 79-14-405. Actions by and against partnership and partners
§ 79-14-406. Management rights of general partner
§ 79-14-407. Rights to information of general partner and person dissociated as general partner
§ 79-14-408. Reimbursement; indemnification; advancement; and insurance