Okla. Stat. tit. 54, § 54-500-403A
This is the official text of Okla. Stat. tit. 54, § 54-500-403A, part of Oklahoma’s Stat. tit. 54, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 54,." Browse the sections below, each linked to its official government source.
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Limited partnership liable for general partner's
Official statutory text
actionable conduct.
Oklahoma Statutes - Title 54. Partnership Page 105
LIMITED PARTNERSHIP LIABLE FOR GENERAL PARTNER’S ACTIONABLE
CONDUCT.
(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 of the limited
partnership or with authority of the limited partnership.
(b) If, in the course of the limited partnership’s activities
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 is liable
for the loss.
Oklahoma Statutes - Title 54. Partnership Page 105
LIMITED PARTNERSHIP LIABLE FOR GENERAL PARTNER’S ACTIONABLE
CONDUCT.
(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 of the limited
partnership or with authority of the limited partnership.
(b) If, in the course of the limited partnership’s activities
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 is liable
for the loss.
Status: in_force · Read it on the official government site
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