Section 33: Remuneration and indemnity

33. Remuneration and indemnity (1) Subject to the partnership agreement— (a) a general partner shall, in consideration for acting in the business of the limited partnership, be entitled to such remuneration as may be decided by a majority of all the partners; (b) a partner shall be entitled to be indemnified by the limited partnership in respect of a payment made by him— (i) in the proper conduct of the limited partnership business or in connection with anything necessarily done for the preservation of the limited partnership business or property; or (ii) to discharge the whole or part of his personal liability for a partnership obligation or in reasonable settlement of an alleged personal liability for a partnership obligation. (2) The indemnity referred to in subsection (1) (b) shall not affect any claim which the limited partnership or another partner may have against such partner. (3) Where the limited partnership does not pay the indemnity referred to in subsection (1) (b) or any other amount due by the limited partnership to a L15A – 23 [Issue 4] Limited Partnerships Act partner, the latter shall be entitled to contribution from the other general partners in the same proportion as if the amount were a partnership loss. Sub-Part C – Duties of Partners