Nev. Rev. Stat. » NRS: CHAPTER 88 - UNIFORM LIMITED PARTNERSHIP ACT
Nevada Revised Statutes

Nev. Rev. Stat. § 88.455 (2026)

Rights, powers and liabilities

✓ current as of July 2026
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NRS 88.455  Rights, powers and liabilities.

      1.  Except as provided in this chapter or in the partnership agreement, a general partner of a limited partnership has the rights and powers and is subject to the restrictions of a partner in a partnership without limited partners.

      2.  Except as provided in this chapter, 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. Except as provided in this chapter 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.

      (Added to NRS by 1985, 1287)

     

Notes of Decisions
Cited in 2 cases, 1995–2020 · leading case: Hotel Cont'l v. Comm'r, 70 T.C.M. 295 (Tax Ct. 1995).
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Hotel Cont'l v. Comm'r, 70 T.C.M. 295 (Tax Ct. 1995). · cites it 2× “150 , 88.455 (1994). Prior to the settlement agreement, petitioner had a right to take action against Levy, the other general partner in Indian Springs.”
Kealey v. Russell (D. Nev. 2020). · cites it 2× “Even if Nevada law was applicable the same conclusion would result: “a 14 general partner of a limited partnership has the liabilities of a partner in a partnership without 15 limited partners to persons other than the partnership and the other partners,” NRS § 88.455, and 16…”
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