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Current as of January 01, 2023 | Updated by FindLaw Staff
(a) A limited partnership is liable for loss or injury caused to a person, or for a penalty incurred, as a result of a wrongful act or omission, or other actionable conduct, of a general partner acting in the ordinary course of activities and affairs of the partnership or with the actual or apparent authority of the partnership.
(b) If, in the course of a limited partnership's activities and affairs or while acting with actual or apparent authority of the partnership, a general partner receives or causes the partnership to receive money or property of a person not a partner, and the money or property is misapplied by a general partner, the partnership is liable for the loss.
Cite this article: FindLaw.com - Idaho Statutes Title 30. Corporations § 30-24-403. Limited partnership liable for general partner's actionable conduct - last updated January 01, 2023 | https://codes.findlaw.com/id/title-30-corporations/id-st-sect-30-24-403.html
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