Alabama Code 10A-9A-3.02. No right or power as limited partner to bind limited partnership
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Terms Used In Alabama Code 10A-9A-3.02
- LIMITED PARTNER: means :
(A) with respect to a limited partnership, a person that: (i) is admitted as a limited partner under Section 10A-9A-3. See Alabama Code 10A-9A-1.02 - partner: means a limited partner or general partner. See Alabama Code 10A-9A-1.02
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
A limited partner does not have the right or the power as a limited partner to act for or bind the limited partnership.