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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>84784</law_id><section_number>50-73.18</section_number><catch_line>Liability for false statement in certificate</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>50-73.47</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="50">Partnerships</unit><unit label="chapter" level="2" order_by="1" identifier="2.1">Virginia Revised Uniform Limited Partnership Act</unit><unit label="article" level="3" order_by="1" identifier="2">Formation: Certificate of Limited Partnership</unit></structure><text>
						<section><p>If any certificate filed pursuant to this chapter contains a false or inaccurate statement, one who suffers loss by reliance on the statement may recover <span class="dictionary">damages</span> for the loss from:</p></section>
						<section id="1"><p><span class="prefix-number">1.</span> Any <span class="dictionary">person</span> who executes the certificate, or causes another to execute it on his behalf, and knew, and any <span class="dictionary">general partner</span> who knew or should have known, the statement to be false in any <span class="dictionary">material</span> respect at the time the certificate was executed; and <a id="paragraph-303785" class="section-permalink" href="https://vacode.org/50-73.18/#1"><i class="fa fa-link"/></a></p></section>
						<section id="2"><p><span class="prefix-number">2.</span> Any <span class="dictionary">general partner</span> who thereafter knows or should have known that any arrangement or other <span class="dictionary">fact</span> described in the certificate has changed, making the statement inaccurate in any <span class="dictionary">material</span> respect, if that <span class="dictionary">general partner</span> had sufficient time to cancel or <span class="dictionary">amend</span> the certificate, or to file a <span class="dictionary">petition</span> for its cancellation or amendment under &#xA7; <a class="law" title="Execution by judicial act" href="/50-73.16/">50-73.16</a> before the statement was reasonably relied upon. <a id="paragraph-303786" class="section-permalink" href="https://vacode.org/50-73.18/#2"><i class="fa fa-link"/></a></p></section></text><history>1985, c. 607; 1987, c. 702.</history><metadata></metadata></law>
