Massachusetts General Laws ch. 109 sec. 7 – Partners transacting business with partnership
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Section 7. 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 Massachusetts General Laws ch. 109 sec. 7
- 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.