§425E-404 - General partner's liability.
[§425E-404] General partner'sliability. (a) Except as otherwise provided in subsections (b)and (c), all general partners are liable jointly and severally for allobligations of the limited partnership unless otherwise agreed by the claimantor provided by law.
(b) A person that becomes a general partner ofan existing limited partnership shall not be personally liable for anobligation of a limited partnership incurred before the person became a generalpartner.
(c) An obligation of a limited partnershipincurred while the limited partnership is a limited liability limitedpartnership, whether arising in contract, tort, or otherwise, is solely theobligation of the limited partnership. A general partner shall not bepersonally liable, directly or indirectly, by way of contribution or otherwise,for such an obligation solely by reason of being or acting as a generalpartner. This subsection applies despite anything inconsistent in thepartnership agreement that existed immediately before the consent required tobecome a limited liability limited partnership under section 425E-406(b)(2). [L2003, c 210, pt of §1]