Missouri Laws 359.071 – Business transactions of partner with the limited partnership
Current as of: 2024 | Check for updates
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Terms Used In Missouri Laws 359.071
- Partner: a limited or general partner. See Missouri Laws 359.011
- 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: a natural person, partnership, limited partnership (domestic or foreign), domestic or foreign limited liability company, trust, estate, association, or corporation. See Missouri Laws 359.011
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 with respect thereto as a person who is not a partner.