Nevada § 87A.335 - Right of limited partner and former limited partner to information

§ 87A.335. Right of limited partner and former limited partner to information

1. On 10 days' demand, made in a record received by the limited partnership, a limited

partner may inspect and copy required information during regular business hours in

the limited partnership's designated office. The limited partner need not have any particular purpose for seeking the information. 2. During regular business hours and at a reasonable location specified by the limited

partnership, a limited partner may obtain from the limited partnership and inspect

and copy true and full information regarding the state of the activities and financial

condition of the limited partnership and other information regarding the activities

of the limited partnership as is just and reasonable if: (a) The limited partner seeks the information for a purpose reasonably related to

the partner's interest as a limited partner; (b) The limited partner makes a demand in a record received by the limited partnership,

describing with reasonable particularity the information sought and the purpose for

seeking the information; and (c) The information sought is directly connected to the limited partner's purpose. 3. Within 10 days after receiving a demand pursuant to subsection 2, the limited partnership

in a record shall inform the limited partner that made the demand: (a) What information the limited partnership will provide in response to the demand; (b) When and where the limited partnership will provide the information; and (c) If the limited partnership declines to provide any demanded information, the limited

partnership's reasons for declining. 4. Subject to subsection 6, a person withdrawn as a limited partner may inspect and

copy required information during regular business hours in the limited partnership's

designated office if: (a) The information pertains to the period during which the person was a limited partner; (b) The person seeks the information in good faith; and (c) The person meets the requirements of subsection 2. 5. The limited partnership shall respond to a demand made pursuant to subsection 4

in the same manner as provided in subsection 3. 6. If a limited partner dies, NRS 87A.485 applies. 7. The limited partnership may impose reasonable restrictions on the use of information

obtained under this section. In a dispute concerning the reasonableness of a restriction under this subsection,

the limited partnership has the burden of proving reasonableness. 8. A limited partnership may charge a person that makes a demand under this section

reasonable costs of copying, limited to the costs of labor and material. 9. Whenever this chapter or a partnership agreement provides for a limited partner

to give or withhold consent to a matter, before the consent is given or withheld,

the limited partnership shall, without demand, provide the limited partner with all

information material to the limited partner's decision that the limited partnership

knows. 10. A limited partner or person withdrawn as a limited partner may exercise the rights

under this section through an attorney or other agent. Any restriction imposed under subsection 7 or by the partnership agreement applies

both to the attorney or other agent and to the limited partner or person withdrawn

as a limited partner. 11. The rights stated in this section do not extend to a person as transferee, but

may be exercised by the legal representative of a natural person under legal disability

who is a limited partner or person withdrawn as a limited partner.