Statute · California Corporations Code
Cal. Corp. Code § 15903.05 — Limited Partners
Cal. Corp. Code § 15903.05
- Type
- Statute
- Source
- California Corporations Code
- Jurisdiction
- California
- Date
- 2007-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) A limited partner does not have any fiduciary duty to the limited partnership or to any other partner solely by reason of being a limited partner.
Citator
Cal. Corp. Code § 15903.05 — Limited Partners is in force in the current edition of the Code, and nothing recorded condemns it.
(a) A limited partner does not have any fiduciary duty to the limited partnership or to any other partner solely by reason of being a limited partner.
(b) A limited partner shall discharge the duties to the partnership and the other partners under this chapter or under the partnership agreement and exercise any rights consistently with the obligation of good faith and fair dealing.
(c) A limited partner does not violate a duty or obligation under this chapter or under the partnership agreement merely because the limited partner’s conduct furthers the limited partner’s own interest.