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§ 500-305A. Limited duties of limited partners

Oklahoma Statutes AnnotatedTitle 54. Partnership

Oklahoma Statutes Annotated
Title 54. Partnership
Chapter 9. Uniform Limited Partnership Act of 2010 (Refs & Annos)
Article 3. Limited Partners
54 Okl.St.Ann. § 500-305A
§ 500-305A. Limited duties of limited partners
Currentness
LIMITED DUTIES OF LIMITED PARTNERS.
(a) 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.
(b) A limited partner shall discharge the duties to the partnership and the other partners under the Uniform Limited Partnership Act of 2010 or under the partnership agreement and exercise any rights consistently with the obligation of good faith and fair dealing.
(c) A limited partner does not violate a duty or obligation under the Uniform Limited Partnership Act of 2010 or under the partnership agreement merely because the limited partner's conduct furthers the limited partner's own interest.

Credits

Laws 2010, c. 384, § 33, eff. Jan. 1, 2011.
54 Okl. St. Ann. § 500-305A, OK ST T. 54 § 500-305A
Current with emergency effective legislation through Chapter 295 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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