Guam § 27309 - Status of Person Erroneously Believing Himself a Limited
Full text of Guam Guam Code Annotated § 27309 — Status of Person Erroneously Believing Himself a Limited, with citation guidance and answers to common questions.
§ 27309. Status of Person Erroneously Believing Himself a Limited
Partner.
A person who has contributed to the capital of a business conducted by
a person or partnership erroneously believing that he has become a limited
partner in a limited partnership, is not, by reason of his exercise of the rights
of a limited partner, a general partner with the person or in the partnership
carrying on the business, or bound by the obligations of such person or
partnership; provided, that on ascertaining the mistake he promptly
renounces his interest in the profits of the business or other compensation
by way of income.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 27309
What does Guam Code Annotated § 27309 cover?
Section 27309 ("Status of Person Erroneously Believing Himself a Limited") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 27309?
A common citation format is "Guam Code Annotated § 27309" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 27309 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.