EMERSON C. HARRINGTON, GOVERNOR. 671

SEC. 17. (Liability of Limited Partner to Partnership.)

(1) A limited partner is liable to the partnership

(a) For the difference between his contribution as actu-
ally made and that stated in the certificate as having been made,
and

(b) For any unpaid contribution which he agreed in the
certificate to make in the future at the time and on the condi-
tions stated in the certificate.

(2) A limited partner holds as trustee for the partnership

(a) Specific property stated in the certificate as con-
tributed by him, but which was not contributed or which has
been wrongfully returned, and

(b) Money or other property wrongfully paid or con-
veyed to him on account of his contribution.

(3) The liabilities of a limited partner as set forth in this
section can be waived or compromised only by the consent of
all members; but a waiver or compromise shall not affect the
right of a creditor of a partnership, who extended credit or
whose claim arose after the filing and before a cancellation or

-amendment of the certificate, to enforce such liabilities.

(4) When a contributor has rightfully received the return
in whole or in part of the capital of his contribution, he is
nevertheless liable to the partnership for any sum, not in

excess of such return with interest, necessary to discharge its
liabilities to all creditors who extended credit or whose claims
arose before such return.

S.EC. 18. (Nature of Limited Partner's Interest in Part-
nership.) A limited partner's interest in the partnership is
personal property.

SEC. 19. (Assignment of Limited Partner's Interest.)

(1) A limited partner's interest is assignable.

(2) A substituted limited partner is a person admitted to
all the rights of a limited partner who has died or has assigned
his interest in a partnership.

(3) An assignee, who does not become a substituted limited
partner, has no right to require any information or account of
the partnership transactions or to inspect the partnership books;
he is only entitled to receive the share of the profits or other
compensation by way of income or the return of his contribu-
tion, to which his assignor would otherwise be entitled.

(4) An assignee shall have the right to become a substituted
limited partner, if all the members (except the assignor) con-