State Codes and Statutes

Statutes > New-jersey > Title-42 > Section-42-3 > 42-3-5

42:3-5. Contracting debts
No debt shall be contracted, or liability incurred for a limited partnership association, except by one or more of its managers, and no liability for an amount exceeding five hundred dollars, except against the person incurring it, shall bind the association, unless reduced to writing and signed by at least two managers.

State Codes and Statutes

Statutes > New-jersey > Title-42 > Section-42-3 > 42-3-5

42:3-5. Contracting debts
No debt shall be contracted, or liability incurred for a limited partnership association, except by one or more of its managers, and no liability for an amount exceeding five hundred dollars, except against the person incurring it, shall bind the association, unless reduced to writing and signed by at least two managers.