- (a) A limited partnership shall be 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 or affairs of the limited partnership or with authority of the limited partnership.
- (b) If, in the course of the limited partnership’s activities or affairs or while acting with authority of the limited partnership, a general partner receives or causes the limited partnership to receive money or property of a person not a partner, and the money or property is misapplied by a general partner, the limited partnership shall be liable for the loss.
Editor's Notes
Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.
Uniform Law: This section is based on § 403 of the Uniform Limited Partnership Act (2001 Act).
History
July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720
Mar. 5, 2013, D.C. Law 19-210, § 2(g)(4)(C), 59 DCR 13171
Effect of Amendments
The 2013 amendment by D.C. Law 19-210 substituted “activities or affairs” for “activities” in (a) and (b).