{"data":{"id":"us-ok/okla.-stat.-tit.-54-54-500-408a","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 54, § 54-500-408A","heading":"General standards of general partner's conduct","body":"GENERAL STANDARDS OF GENERAL PARTNER’S CONDUCT.\n\n(a) The only fiduciary duties that a general partner has to the\n\nlimited partnership and the other partners are the duties of loyalty\n\nand care under subsections (b) and (c) of this section.\n\n(b) A general partner’s duty of loyalty to the limited\n\npartnership and the other partners is limited to the following:\n\n(1) to account to the limited partnership and hold as trustee\n\nfor it any property, profit, or benefit derived by the general\n\npartner in the conduct and winding up of the limited partnership’s\n\nactivities or derived from a use by the general partner of limited\n\npartnership property, including the appropriation of a limited\n\npartnership opportunity;\n\n(2) to refrain from dealing with the limited partnership in the\n\nconduct or winding up of the limited partnership’s activities as or\n\non behalf of a party having an interest adverse to the limited\n\npartnership; and\n\n(3) to refrain from competing with the limited partnership in\n\nthe conduct or winding up of the limited partnership’s activities.\n\n(c) A general partner’s duty of care to the limited partnership\n\nand the other partners in the conduct and winding up of the limited\n\npartnership’s activities is limited to refraining from engaging in\n\ngrossly negligent or reckless conduct, intentional misconduct, or a\n\nknowing violation of law.\n\n(d) A general partner shall discharge the duties to the\n\npartnership and the other partners under the Uniform Limited\n\nPartnership Act of 2010 or under the partnership agreement and\n\nexercise any rights consistently with the obligation of good faith\n\nand fair dealing.\n\n(e) A general partner does not violate a duty or obligation\n\nunder the Uniform Limited Partnership Act of 2010 or under the\n\npartnership agreement merely because the general partner’s conduct\n\nfurthers the general partner’s own interest.","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":"9db0faa8be112b1c80ad75b6d7d863268630a499f2d90db0328d1b9d0fa6d51a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-54-54-500-407a","next":"us-ok/okla.-stat.-tit.-54-54-500-501a"},"notice":"GroundRules: Original legal text. Not legal advice."}