Hawaii Revised Statutes 425E-112 – Business transactions between a partner and the partnership
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Terms Used In Hawaii Revised Statutes 425E-112
- Partner: means a limited partner or general partner. See Hawaii Revised Statutes 425E-102
- 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: includes any individual or entity. See Hawaii Revised Statutes 425E-102
A partner may lend money to and transact other business with the limited partnership and has the same rights and obligations with respect to the loan or other transaction as a person who is not a partner.