A person may be both a general partner and a limited partner. A person that is both a general and limited partner has the rights, powers, duties and obligations provided by the Uniform Revised Limited Partnership Act and the partnership agreement in each of those capacities. When the person acts as a general partner, the person is subject to the obligations, duties and restrictions pursuant to that act and the partnership agreement for general partners. When the person acts as a limited partner, the person is subject to the obligations, duties and restrictions pursuant to that act and the partnership agreement for limited partners. History: Laws 2007, ch. 129, § 113. ANNOTATIONSEffective dates. — Laws 2007, ch. 129, § 1208 made the section effective January 1, 2008.
New Mexico Legal Code