§ 7-13.1-402. General partner agent of limited partnership. [Effective January 1, 2023.]
(a) Each general partner is an agent of the limited partnership for the purposes of its activities and affairs. 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 partnership’s activities and affairs or activities and affairs of the kind carried on by the partnership binds the partnership, unless the general partner did not have authority to act for the partnership in the particular matter and the person with which the general partner was dealing knew or had notice that the general partner lacked authority.
(b) An act of a general partner which is not apparently for carrying on in the ordinary course the limited partnership’s activities and affairs or activities and affairs of the kind carried on by the partnership binds the partnership only if the act was actually authorized by all the other partners.
History of Section.P.L. 2022, ch. 121, § 2, effective January 1, 2023; P.L. 2022, ch. 122, § 2, effective January 1, 2023.
Structure Rhode Island General Laws
Title 7 - Corporations, Associations and Partnerships
Chapter 7-13.1 - Uniform Limited Partnership Act [Effective January 1, 2023.]
Part 4 - General Partners [Effective January 1, 2023.]
Section 7-13.1-401. - Becoming general partner. [Effective January 1, 2023.]
Section 7-13.1-402. - General partner agent of limited partnership. [Effective January 1, 2023.]
Section 7-13.1-404. - General partner’s liability. [Effective January 1, 2023.]
Section 7-13.1-405. - Actions by and against partnership and partners. [Effective January 1, 2023.]
Section 7-13.1-406. - Management rights of general partner. [Effective January 1, 2023.]
Section 7-13.1-409. - Standards of conduct for general partners. [Effective January 1, 2023.]