O.C.G.A.
O.C.G.A.

O.C.G.A. § 14-9-107 (2019)

Business transactions of partner with partnership

✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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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.

History

(Code 1981, § 14-9-107, enacted by Ga. L. 1988, p. 1016, § 1.)

Annotations

COMMENT

Note to Georgia Revised Uniform Limited Partnership Act This section permits a partner to lend money and transact other business with the limited partnership on the same basis as a non-partner, subject to the partnership agreement and other applicable law.

Prior Georgia Law Section 14-9A-44 prohibits limited partner secured loans.

Comparison With Official RULPA This section is the same as the official version.

Cross-Reference Distributions to partners who are creditors: § 14-9-804(1).