35-12-806. General partner as agent of limited partnership. (1) Each general partner is an agent of the limited partnership for the purposes of its activities. An act of a general partner, including the signing of a record in the partnership's name, for apparently carrying on in the ordinary course the limited partnership's activities or activities of the kind carried on by the limited partnership binds the limited partnership unless the general partner did not have authority to act for the limited partnership in the particular matter and the person with which the general partner was dealing knew, had received a notification, or had notice under 35-12-511(4) that the general partner lacked authority.
(2) An act of a general partner that is not apparently for carrying on in the ordinary course the limited partnership's activities or activities of the kind carried on by the limited partnership binds the limited partnership only if the act was actually authorized by all the other partners.
History: En. Sec. 33, Ch. 216, L. 2011.
Structure Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 12. Limited Partnerships
35-12-803. General partner's liabilities
35-12-806. General partner as agent of limited partnership
35-12-807. Limited partnership liable for general partner's actionable conduct
35-12-808. Actions by and against partnership and partners
35-12-809. Management rights of general partner
35-12-810. Right of general partner and former general partner to information