Section 10-9B-207 Liability for material false statement in certificate.
Section 10-9B-207
Liability for material false statement in certificate.
REPEALED IN THE 2009 REGULAR SESSION BY ACT 2009-621, EFFECTIVE JANUARY 1, 2010. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
If any certificate of limited partnership or certificate of amendment or cancellation contains any statement which is false in any material respect, one who suffers loss by reasonable reliance on the statement may recover damages for the loss from:
(1) Any general partner (whether or not he or she executed the certificate) who knew or should have known, the statement to be false at the time the certificate was executed; and
(2) Any general partner who thereafter knows or should have known that any arrangement or other fact described in the certificate has changed (other than an arrangement or fact as to which amendment of the certificate was required under the predecessor to Section 10-9B-202 of this chapter but as to which amendment is no longer required under Section 10-9B-202 of this chapter), making the statement false in any material respect within a sufficient time before the statement was relied upon reasonably to have enabled that general partner to cancel or amend the certificate, or to file a petition for its cancellation or amendment under Section 10-9B-205.
(Act 97-921, 1st Ex. Sess. p. 335, §1.)