35-12-707. Limited duties of limited partners. (1) A limited partner does not have any fiduciary duty to the limited partnership or to any other partner solely by reason of being a limited partner.
(2) A limited partner shall discharge the duties to the partnership and the other partners under this chapter or under the partnership agreement and exercise any rights consistently with the obligation of good faith and fair dealing.
(3) 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.
History: En. Sec. 31, Ch. 216, L. 2011.
Structure Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 12. Limited Partnerships
35-12-701. Becoming limited partner
35-12-703. No liability as limited partner for limited partnership obligations
35-12-704. Person erroneously believing self to be limited partner
35-12-705. Right of limited partner and former limited partner to information
35-12-706. No right or power as limited partner to bind limited partnership