Alaska Statutes 32.11.860 – Business transactions of partner with partnership
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 32.11.860
- partner: means a limited or general partner. See Alaska Statutes 32.11.900
- 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.
- person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
Except as provided in the partnership agreement, a partner may lend money to and transact other business with the limited partnership and, subject to other applicable law, has the same rights and obligations as a person who is not a partner.