O.C.G.A.

O.C.G.A. § 14-9-107 (2019)

Business transactions of partner with partnership

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

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).