Except as provided in the partnership agreement, a partner may lend money to and transact other business with the limited partnership and, subject to other applicable law, has the same rights and obligations with respect thereto as a person who is not a partner.

Terms Used In Connecticut General Statutes 34-21

  • Partner: means a limited or general partner. See Connecticut General Statutes 34-9
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means a natural person, partnership, limited partnership, foreign limited partnership, trust, estate, association, limited liability company or corporation. See Connecticut General Statutes 34-9