Okla. Stat. tit. 54, § 150
Repealed
Effective Jan 1, 2010Laws 1951, HB 356, p. 146, § 10, emerg. eff. May 29, 1951. Laws 2008, SB 1708, c. 382, § 317 provides that this section is repealed. Section 319 of Laws 2008, SB 1708, c. 382 provides that the § 317 repeal shall become effective November 1, 2008. Section 320 of Laws 2008, SB 1708, c. 382 provides that the § 317 repeal shall become effective January 1, 2010. Weddington v. Henry, 2008 OK 102, 202 P.3d 143 holds that Laws 2008, SB 1708, c. 382 is entirely unconstitutional and void.
- (a) A general partner shall have all the rights and powers and be subject to all the restrictions and liabilities of a partner in a partnership without limited partners, except that without the written consent or ratification of the specific act by all the limited partners, a general partner or all of the general partners have no authority to:
- (1) Do any act in contravention of the certificate.
- (2) Do any act which would make it impossible to carry on the ordinary business of the partnership.
- (3) Confess a judgment against the partnership.
- (4) Possess partnership property, or assign their rights in specific partnership property, for other than a partnership purpose.
- (5) Admit a person as a general partner.
- (6) Admit a person as a limited partner, unless the right so to do is given in the certificate.
- (7) Continue the business with partnership property on the death, retirement or insanity of a general partner, unless the right so to do is given in the certificate.
Laws 1951, HB 356, p. 146, § 10, emerg. eff. May 29, 1951.
Laws 2008, SB 1708, c. 382, § 317 provides that this section is repealed. Section 319 of Laws 2008, SB 1708, c. 382 provides that the § 317 repeal shall become effective November 1, 2008. Section 320 of Laws 2008, SB 1708, c. 382 provides that the § 317 repeal shall become effective January 1, 2010. Weddington v. Henry, 2008 OK 102, 202 P.3d 143 holds that Laws 2008, SB 1708, c. 382 is entirely unconstitutional and void.