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524 LIMITED PARTNERSHIPS. [ART. LXXIII
(c) Confess a judgment against the partnership,
(d) Possess partnership property, or assign their rights in specific
partnership property, for other than a partnership purpose,
(e) Admit a person as a general partner,
(f) Admit a person as a limited partner, unless the right so to do is
given in the certificate,
(g) Continue the business with partnership property on the death,
retirement or insanity of a general partner, unless the right so to do.
is given in the certificate.
1918, ch. 280, sec. 10.
10. (RIGHTS OF A LIMITED PARTNER.) (1) A limited partner
shall have the same rights as a general partner to
(a) Have the partnership books kept at the principal place of busi-
ness of the partnership, and at all times to inspect and copy any of
them.
(b) Have on demand true and full information of all things affect-
ing the partnership, and a formal account of partnership affairs when-
ever circumstances render it just and reasonable, and
(c) Have dissolution and winding up by decree of court.
(2) A limited partner shall have the right to receive a share of the
profits or other compensation by way of income, and to the return of his
contribution as provided in Sections 15 and 16.
1918, ch. 280, sec. 11.
11. (STATUS OF PERSON ERRONEOUSLY BELIEVING HIMSELF A LIM-
ITED PARTNER.) A person who has contributed to the capital of a
business conducted by a person or partnership erroneously believing-
that he has become a limited partner in a limited partnership, is not,
by reason of his exercise of the rights of a limited partner, a general
partner with the person or in the partnership carrying on the business,
or bound by the obligations of such person or partnership; provided
that on ascertaining the mistake he promptly renounces his interest in
the profits of the business, or other compensation by way of income.
1918, ch. 280, sec 12
12. (ONE PERSON BOTH GENERAL AND LIMITED PARTNER.) (1)
A person may be a general partner and a limited partner in the same
partnership at the same time.
(2) A person who is a general, and also at the same time a limited
partner, shall have all the rights and powers and be subject to all the
restrictions of a general partner; except that, in respect to his con-
tribution, he shall have the rights against the other members which he
would have had if he were not also a general partner.
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