Utah Code 48-2e-306. Person erroneously believing self to be limited partner
Current as of: 2023 | Check for updates
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(1) | Except as otherwise provided in Subsection (2), a person that makes an investment in a business enterprise and erroneously but in good faith believes that the person has become a limited partner in the enterprise is not liable for the enterprise’s obligations by reason of making the investment, receiving distributions from the enterprise, or exercising any rights of or appropriate to a limited partner, if, on ascertaining the mistake, the person:
Enacted by Chapter 412, 2013 General Session |