The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
004
:
GENERAL PARTNERS
(Cite as: 11 V.S.A. § 3433)
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§ 3433. General powers and liabilities
(a) Except as provided in this chapter or in the partnership agreement, a general partner
of a limited partnership has the rights and powers and is subject to the restrictions
of a partner in a partnership without limited partners.
(b) Except as provided in this chapter, a general partner of a limited partnership has
the liabilities of a partner in a partnership without limited partners to persons
other than the partnership and the other partners. Except as provided in this chapter
or in the partnership agreement, a general partner of a limited partnership has the
liabilities of a partner in a partnership without limited partners to the partnership
and to the other partners. (Added 1997, No. 149 (Adj. Sess.), § 4, eff. Jan. 1, 1999.)