PUBLIC Law Chapter 543

	5.__Person other than individual; reasonable diligence.__Except as
otherwise provided in subsection 6, a person other than an
individual knows, has notice or receives a notification of a fact
for purposes of a particular transaction when the individual
conducting the transaction knows, has notice or receives a
notification of the fact or in any event when the fact would have
been brought to the individual's attention if the person had
exercised reasonable diligence.__The person exercises reasonable
diligence if that person maintains reasonable routines for
communicating significant information to the individual conducting
the transaction and there is reasonable compliance with the
routines.__Reasonable diligence does not require an individual
acting for the person to communicate information unless the
communication is part of the individual's regular duties or the
individual has reason to know of the transaction and that the
transaction would be materially affected by the information.

6.__Effective as to partnership.__A partner's knowledge,
notice or receipt of a notification of a fact relating to the
partnership is effective immediately as knowledge by, notice to
or receipt of a notification by the partnership except in the
case of a fraud on the partnership committed by or with the
consent of that partner.

§1003.__Effect of partnership agreement; nonwaivable provisions

1.__Partnership agreement governs; default.__Except as
otherwise provided in subsection 2, relations among the partners
and between the partners and the partnership are governed by the
partnership agreement.__To the extent the partnership agreement
does not otherwise provide, this chapter governs relations among
the partners and between the partners and the partnership.

2.__Nonwaivable provisions of chapter.__The partnership
agreement may not:

A.__Vary the rights and duties under section 1005 except to
eliminate the duty to provide copies of statements to all of
the partners;

B.__Unreasonably restrict the right of access to books and
records under section 1043, subsection 2;

C.__Eliminate the duty of loyalty under section 1044,
subsection 2 or section 1063, subsection 2, paragraph C,
but:

Amendments	Public Hearing Schedule	Committee Information
Committee List	Work Session Schedule	Title & Section

	Search Bill Text	Legislative Information
Bill Directory	Search Bill Status	Session Information
119th Legislature Bills	Search Bill Status	Maine Legislature

Office of Legislative Information 100 State House Station Augusta, ME 04333		voice: (207) 287-1692 fax: (207) 287-1580 tty: (207) 287-6826
Word Viewer for Windows		Disclaimer