Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
321.0403 LIMITED PARTNERSHIP LIABLE FOR GENERAL PARTNER'S
ACTIONABLE CONDUCT.
(a) A limited partnership is liable for loss or injury caused to a person, or for a penalty
incurred, as a result of a wrongful act or omission, or other actionable conduct, of a general
partner acting in the ordinary course of activities of the limited partnership or with authority
of the limited partnership.
(b) If, in the course of the limited partnership's activities or while acting with authority of
the limited partnership, a general partner receives or causes the limited partnership to receive
money or property of a person not a partner, and the money or property is misapplied by a general
partner, the limited partnership is liable for the loss.
History: 2004 c 199 art 4 s 36
ACTIONABLE CONDUCT.
(a) A limited partnership is liable for loss or injury caused to a person, or for a penalty
incurred, as a result of a wrongful act or omission, or other actionable conduct, of a general
partner acting in the ordinary course of activities of the limited partnership or with authority
of the limited partnership.
(b) If, in the course of the limited partnership's activities or while acting with authority of
the limited partnership, a general partner receives or causes the limited partnership to receive
money or property of a person not a partner, and the money or property is misapplied by a general
partner, the limited partnership is liable for the loss.
History: 2004 c 199 art 4 s 36
Official Publication of the State of Minnesota
Revisor of Statutes