Except as provided in the partnership agreement, a partner may lend money to, act as surety for, and transact other business with the limited partnership and, subject to other applicable law, has the same rights and obligations with respect thereto as a person who is not a partner.
Source: L. 81: Entire article added, p. 435, § 1, effective November 1.
ANNOTATION
Law reviews. For article, "Limited Partnership Act Update", see 11 Colo. Law. 688 (1982).
A special district which was a limited partner is authorized to contract with the partnership unless the contract is unconstitutional in which event the contract is ultra vires and void. Black v. First Federal Savings and Loan, 830 P.2d 1103 (Colo. App. 1992).