§ 620.1305, Fla. Stat. · Part I. FLORIDA REVISED UNIFORMLIMITED PARTNERSHIP ACT OF 2005
Limited duties of limited partners.
Text — 2026 Florida Statutes
(1) 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. To the extent a limited partner is vested with or delegated management powers or duties under the partnership agreement, the only fiduciary duties that such limited partner has to the limited partnership and the other partners with respect to the exercise of such powers or duties are those duties described in s. 620.1408, subject to the same standards and limitations that would apply to a general partner under that section with respect to the exercise of such powers or duties.
(2) A limited partner shall discharge the duties to the limited partnership and the other partners under this act or under the partnership agreement and exercise any rights consistently with the obligation of good faith and fair dealing.
(3) A limited partner does not violate a duty or obligation under this act or under the partnership agreement merely because the limited partner’s conduct furthers the limited partner’s own interest.
Notes and commentary — not statutory text
History
s. 17, ch. 2005-267.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0620/0620.html
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- sha256 a30c31c604f2f3817e6607b48c1f98e3ebbfaf2f53c9e9ebe29b59cae2d6fd18
- Composed by
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This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Cited by 3 provisions
Provisions in this library whose text cites § 620.1305, Fla. Stat.. Each shows the citation as that text prints it.
The Florida Statutes
- § 620.1110, Fla. Stat.Effect of partnership agreement; nonwaivable provisions.Printed as ss. 620.1305(2) and 620.1408(4)
- § 620.1601, Fla. Stat.Dissociation as limited partner.Printed as s. 620.1305(1); s. 620.1305(2)
- § 620.1602, Fla. Stat.Effect of dissociation as limited partner.Printed as s. 620.1305(1); s. 620.1305(2)
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.