Each general partner has equal rights in the management and conduct of the limited partnership's activities and affairs. Except as otherwise provided in this chapter, any matter relating to the activities and affairs of the partnership is decided exclusively by the general partner or, if there is more than one general partner, by a majority of the general partners.
The affirmative vote or consent of all the partners is required to:
A limited partnership shall reimburse a general partner for an advance to the partnership beyond the amount of capital the general partner agreed to contribute.
A payment or advance made by a general partner which gives rise to an obligation of the limited partnership under subsection (c) or Section 79-14-408(a) constitutes a loan to the limited partnership which accrues interest from the date of the payment or advance.
A general partner is not entitled to remuneration for services performed for the partnership.
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