Idaho Code 30-24-302 – No Agency Power of Limited Partner as Limited Partner
Current as of: 2023 | Check for updates
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(1) A limited partner is not an agent of a limited partnership solely by reason of being a limited partner.
(2) A person‘s status as a limited partner does not prevent or restrict law other than this chapter from imposing liability on a limited partnership because of the person’s conduct.
Terms Used In Idaho Code 30-24-302
- 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 a corporation as well as a natural person;
Idaho Code 73-114