Page:United States Statutes at Large Volume 47 Part 1.djvu/1300

 1276 Acknowledging and recording; false state- ment. Ante, p. 1275. Post, P .1277. Post, p.1277. Affidavit as to sums contributed. No partnership until compliance. Ante, p. 1275. Renewal of. '%d ,8 . 1278. Powers, rights, and ,dut ies of partn ers. General partners to do business. Special, may .advise. May loan money. Insolvency. General partners may sue and be sued. Withdrawal of capi- tal. Interest and.proits. 72d C ONGRESS. SESS. II. CH.. 128. F EBRUARY 27, 1933 . ,SEC. 1127 . ACKNOWLEDGED AND RECORDED ; FALSE STATEMENT .-Cer- tificates under section 1126 must be acknowledged by all the partners, before the clerk of the district court and filed in his office, and shall be open to public inspection. If any fals e st atem ent is made in any such certificate, all the persons interested in the partnership are liable, as gene ral partn ers, for all the engagem ents the reof. CROSS References Liability for false statements, see section 1140. Liability for unintentional acts, see section 1141. S EC. 1128 . AFFIDAVIT AS TO SUMS CONTRIBUTED.-An affidavit of each of the partners, stating that the sums specified in the certificate of the partnership as having been contributed by each of the special partners, have been actually and in good faith paid, in the lawful money of the United States, must be filed in the same office with the original ce rtificate. SEC . 1129 . No PARTNERSHIP UNTIL COMPLIANCE .--No special partner- ship is formed until the provisions of sections 1124 to 1128 are comp lied with. S EC. 1130 . RENEWAL OF SPECIAL PARTNERBHiP.---Every renewal or continuance of a special partnership must be certified, filed, and verifie d in the same man ner as u pon its original formation. CrossRase.Extm Compare with section 1143. POWERS, RIGHTS, AND DUTIES OF PARTNERS .SEC. 1131 . WHO TO DO BUSINESS .-The general partners only have .authority to transact the business of a special partnership. Sam. 1132 . SPECIAL PARTNERS MAY ADVISE .-A special partner may a t all ti mes inve stigate the part nership affairs, and advi se his p art- ners, o r their agents, a s to the ir manag ement. SEC. 1133. MAY LOAN MONEY ; insolvency .A special partner may lend money to the partnership, or advance money for it, and ta ke from it security therefor, and as to such loans or advances has the same rights as any other creditor ; but in case of the insolvency of the partnership, all other claims which he may have against it must be postponed until all other creditors are satisfied. SEC. 1134. GENERAL PARTNERS MAY SUE AND BE SUED .--In all matters relating to a special partnership, its general partners may sue and be sued alone, in the salhe manner as if there were no special partners. SEC. 1135 . WITHDR AWAL OF CAPI TAL .-No special partner, under any pretense, may withdraw any part of the capital invested by him in the partnership, during its continuance. CRoss REFERENCE Wi thdr awal of capi tal, see sec tion 11 37. SEC. 1136. INTEREST AND PROFITS.A special partner may receive such lawful interest and such proportion of profits as may be agreed upon, if not paid out of the capital invested in the partnership by him, or by some other special partner, and is not bound to refund the same to meet subsequent losses. withdraw- ing withdraw- S EC. 1137 . RES ULT OF WI THDR AWI NG CAPITAL.-If a special partner withdraws capital from the firm, contrary to the provisions of this subchapter, he thereby becomes a general partner.