Section 24Part 1 — Exempted Limited Partnership Act
Establishment, regulation of boards, committees
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Where a partnership agreement contains provisions for the establishment and regulation of any boards or committees of an exempted limited partnership, its partners or any class or category of those partners, or representatives of any of the partners, including —
the establishment and constitution of boards or committees;
the manner and terms of appointment and removal of the members of boards or committees;
the powers, rights, auth orities, obligations and duties of the members of boards or committees;
the regulation of the proceedings of boards or committees; and
the rights of the members and former members of boards or committees to exculpation or to be indemnified out of t he assets of the exempted limited partnership, then, subject to the express provisions of the partnership agreement, any person duly appointed to be a member of any board or committee in accordance with those provisions shall be deemed to have notice of an d shall have the benefit of those provisions which shall not be unenforceable by any person in that person’s own right by reason only that the person is not a party to the partnership agreement.
Subject to any express provisions of the partnership agreement to the contrary, a member of any board or committee referred to in subsection (1) does not owe any fiduciary duty in exercising any of its rights or authorities, or otherwise in performing any of its obligations, as a member of the board or commi ttee to the exempted limited partnership or any partner.