A limited partnership has the powers to do all things necessary or convenient to carry on its activities, including the power to sue, be sued and defend in its own name and to maintain an action against a partner for harm caused to the limited partnership by a breach of the partnership agreement or violation of a duty to the partnership.
History: Laws 2007, ch. 129, § 105.
Effective dates. — Laws 2007, ch. 129, § 1208 made the section effective January 1, 2008.
Structure New Mexico Statutes
Article 2A - Uniform Revised Limited Partnership Act
Article 1 - General Provisions
Section 54-2A-101 - Short title.
Section 54-2A-102 - Definitions.
Section 54-2A-103 - Knowledge and notice.
Section 54-2A-104 - Nature, purpose and duration of entity.
Section 54-2A-106 - Governing law.
Section 54-2A-107 - Supplemental principles of law; rate of interest.
Section 54-2A-109 - Reservation of name.
Section 54-2A-110 - Effect of partnership agreement; nonwaivable provisions.
Section 54-2A-111 - Required information.
Section 54-2A-112 - Business transactions of partner with partnership.
Section 54-2A-113 - Dual capacity.
Section 54-2A-114 - Office and agent for service of process.
Section 54-2A-115 - Change of designated office or agent for service of process.
Section 54-2A-116 - Resignation of agent for service of process.
Section 54-2A-117 - Service of process.