Guam § 27311 - Loans and other Business Transactions with Limited Partner.
Full text of Guam Guam Code Annotated § 27311 — Loans and other Business Transactions with Limited Partner., with citation guidance and answers to common questions.
§ 27311. Loans and other Business Transactions with Limited Partner.
(1) A limited partner also 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:
(a) Receive or hold as collateral security any partnership property,
or
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(b) Receive from a general partner of 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.
(2) The receiving of collateral security, or a payment, conveyance, or
release in violation of the provisions of paragraph (1) is a fraud on the credi-
tors of the partnership.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 27311
What does Guam Code Annotated § 27311 cover?
Section 27311 ("Loans and other Business Transactions with Limited Partner.") 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 § 27311?
A common citation format is "Guam Code Annotated § 27311" (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 § 27311 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.