Ind. Code » Title 23
Indiana Code

Ind. Code § 23-16-5-3 (2025)

General powers and liabilities

✓ 2025 Indiana Code: the 2026 session is not included
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     Sec. 3. (a) Except as provided in this article or in the partnership agreement, a general partner of a limited partnership has the rights and powers of, and is subject to the restrictions of, a partner in a partnership without limited partners.

     (b) Except as provided in this article, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to persons other than the partnership and the other partners.

     (c) Except as provided in this article or in the partnership agreement, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to the partnership and to the other partners.

As added by P.L.147-1988, SEC.1.

 

Notes of Decisions
Cited in 4 cases, 1996–2014 · leading case: Bell v. Clark, 670 N.E.2d 1290 (Ind. 1996).
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Bell v. Clark, 670 N.E.2d 1290 (Ind. 1996). · cites it 2× “See Ind. Code § 23-16-5-3 (general powers and liabilities of general partner of limited partnership same as general partner of general partnership); Ind.”
In Re RUETH Dev. Co., an Indiana Ltd. P'ship, 976 N.E.2d 42 (Ind. Ct. App. 2012). · cites it 2× “I.C. § 23-16-5-3(a). Under common law, general partners owe each other and the partnership fiduciary duties until final termination of the partnership.”
Vodafone Americas Inc. v. Indiana Dep't of State Revenue, 991 N.E.2d 626 (Ind. T.C. 2013). · cites it 2× “, Ind.Code § 23-16-5-3(a) (2005) with 6 Del.”
Rueth Dev. Co. v. Power-Rueth & Assocs., Donald S. Powers, Margret F. Powers, No. 45A05-1402-PL-80 (Ind. Ct. App. Nov. 6, 2014). · cites it 4× “” Ind. Code § 23-16-5-3 (a). Indiana Code section 23-16-5-3(c) further provides that “[e]xcept as provided in this article or in the partnership agreement, a general partner of a limited partnership has the liabilities of a partner in a partnership without limited partners to…”
Ind. Code § 23-16-5-3(a): 2 cases
In Re RUETH Dev. Co., an Indiana Ltd. P'ship, 976 N.E.2d 42 (Ind. Ct. App. 2012). “I.C. § 23-16-5-3(a). Under common law, general partners owe each other and the partnership fiduciary duties until final termination of the partnership.”
Vodafone Americas Inc. v. Indiana Dep't of State Revenue, 991 N.E.2d 626 (Ind. T.C. 2013). “, Ind.Code § 23-16-5-3(a) (2005) with 6 Del.”
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