Maine Code § 31-1345

Limited duties of limited partners
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1. No fiduciary duty. A limited partner does not have any fiduciary duty to the limited partnership
or to any other partner solely by reason of being a limited partner.
[PL 2005, c. 543, Pt. C, §2 (NEW).]
2. Good faith and fair dealing. A limited partner shall discharge the duties to the partnership and
the other partners under this chapter or under the partnership agreement and exercise any rights
consistently with the obligation of good faith and fair dealing.
[PL 2005, c. 543, Pt. C, §2 (NEW).]
3. Limited partner's own interest. A limited partner does not violate a duty or obligation under
this chapter or under the partnership agreement merely because the limited partner's conduct furthers
the limited partner's own interest.
[PL 2005, c. 543, Pt. C, §2 (NEW).]

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