§425-118  Actions by and against partnership
and partners.  (a)  A partnership may sue and be sued in the name of the
partnership.



(b)  An action may be brought against the
partnership and, to the extent not inconsistent with section 425-117, any or
all of the partners in the same action or in separate actions.



(c)  A judgment against a partnership is not by
itself a judgment against a partner.  A judgment against a partnership shall
not be satisfied from a partner's assets unless there is also a judgment
against the partner.



(d)  A judgment creditor of a partner shall not
levy execution against the assets of the partner to satisfy a judgment based on
a claim against the partnership unless the partner is personally liable for the
claim under section 425-117 and:



(1)  A judgment based on the same claim has been
obtained against the partnership and a writ of execution on the judgment has
been returned unsatisfied in whole or in part;



(2)  The partnership is a debtor in bankruptcy;



(3)  The partner has agreed that the creditor need not
exhaust partnership assets;



(4)  A court grants permission to the judgment
creditor to levy execution against the assets of a partner based on a finding
that partnership assets subject to execution are clearly insufficient to satisfy
the judgment, that exhaustion of partnership assets is excessively burdensome,
or that the grant of permission is an appropriate exercise of the court's
equitable powers; or



(5)  Liability is imposed on the partner by law or
contract independent of the existence of the partnership.



(e)  This section applies to any partnership
liability or obligation resulting from a representation by a partner or
purported partner under section 425‑119. [L 1999, c 284, pt of §1]