---
title: O.C.G.A. § 14-9A-44. Loans and other business transactions between limited partner and partnership; limitation on resulting claims against partnership.
collection: code
id: 14-9A-44
cite_as: O.C.G.A. § 14-9A-44 (2025)
canonical_url: https://georgiacommons.org/code/14-9A-44
md_url: https://georgiacommons.org/code/14-9A-44.md
text_url: https://georgiacommons.org/code/14-9A-44/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t14-(v12)-2017-pdf.pdf?sfvrsn=507372ea_0#page=1073
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS / LIMITED PARTNERSHIPS / LIMITED PARTNERSHIPS FORMED SINCE FEBRUARY 15, 1952 / LIMITED PARTNERS
---

# O.C.G.A. § 14-9A-44. Loans and other business transactions between limited partner and partnership; limitation on resulting claims against partnership.

(a) A limited partner may loan money to and transact other business with the partnership and, unless he is also a general partner, receive on account of resulting claims against the partnership, with general creditors, a pro rata share of the assets. No limited partner shall in respect to any such claim:

(1) Receive or hold as collateral security any partnership property; or

(2) Receive from a general partner or the partnership any payment, conveyance, or release from liability, if at the time the assets of the partnership are not sufficient to discharge partnership liabilities to persons not claiming as general or limited partners.

(b) The receiving of collateral security, or a payment, conveyance, or release in violation of subsection (a) of this Code section is a fraud on the creditors of the partnership.

## History

Ga. L. 1952, p. 375, § 13; Code 1981, § 14-9-44; Code 1981, § 14-9A-44, as redesignated by Ga. L. 1988, p. 1016, § 1.