{"data":{"id":"us-ok/okla.-stat.-tit.-54-54-500-406a","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 54, § 54-500-406A","heading":"Management rights of general partner","body":"MANAGEMENT RIGHTS OF GENERAL PARTNER.\n\n(a) Each general partner has equal rights in the management and\n\nconduct of the limited partnership’s activities. Except as\n\nexpressly provided in the Uniform Limited Partnership Act of 2010,\n\nany matter relating to the activities of the limited partnership may\n\nbe exclusively decided by the general partner or, if there is more\n\nthan one general partner, by a majority of the general partners.\n\n(b) The consent of each partner is necessary to:\n\n(1) amend the partnership agreement;\n\n(2) amend the certificate of limited partnership to add or,\n\nsubject to Section 97 of this act, delete a statement that the\n\nlimited partnership is a limited liability limited partnership; and\n\n(3) sell, lease, exchange, or otherwise dispose of all, or\n\nsubstantially all, of the limited partnership’s property, with or\n\nwithout the good will, other than in the usual and regular course of\n\nthe limited partnership’s activities.\n\n(c) A limited partnership shall reimburse a general partner for\n\npayments made and indemnify a general partner for liabilities\n\nincurred by the general partner in the ordinary course of the\n\nactivities of the partnership or for the preservation of its\n\nactivities or property.\n\n(d) A limited partnership shall reimburse a general partner for\n\nan advance to the limited partnership beyond the amount of capital\n\nthe general partner agreed to contribute.\n\n(e) A payment or advance made by a general partner which gives\n\nrise to an obligation of the limited partnership under subsection\n\n(c) or (d) of this section constitutes a loan to the limited\n\npartnership which accrues interest from the date of the payment or\n\nadvance.\n\n(f) A general partner is not entitled to remuneration for\n\nservices performed for the partnership.","path":["OK Code","Title 54"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os54.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"7c2c7a05c4e3c36a7bb98a3480a76fa734eecd6589d30986fff88e8c01f5acfd","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-54-54-500-405a","next":"us-ok/okla.-stat.-tit.-54-54-500-407a"},"notice":"GroundRules: Original legal text. Not legal advice."}