§425-117 - Partner's liability.
§425-117 Partner's liability. (a)
Except as otherwise provided in subsections (b) and (c), all partners are
liable jointly and severally for all obligations of the partnership unless
otherwise agreed by the claimant or provided by law.
(b) A person admitted as a partner into an
existing partnership is not personally liable for any partnership obligation
incurred before the person's admission as a partner.
(c) An obligation of a partnership incurred
while the partnership is a limited liability partnership, whether arising in
contract, tort, or otherwise, is solely the obligation of the partnership. A
partner is not personally liable, directly or indirectly, by way of
contribution or otherwise, for such an obligation solely by reason of being or
so acting as a partner. This subsection applies notwithstanding anything
inconsistent in the partnership agreement that existed immediately before the
vote required to become a limited liability partnership. [L 1999, c 284, pt of
§1]