42:3-9 - Liability of individual members;Ā executions
42:3-9.Ā Liability of individual members;Ā executions
The members of any limited partnership association shall not be liable underĀ any judgment or order obtained against the association, or for any debt orĀ engagement of the association, except that, if any execution, sequestration orĀ other process in the nature of execution be issued against the property orĀ effects of the association, and if there cannot be found sufficient thereof onĀ which to levy or enforce such process, such execution, sequestration or otherĀ process may be issued against any of the members to the extent of the portionsĀ of their subscriptions respectively, in the capital of the association not thenĀ paid up.
Amended by L.1953, c. 40, p. 760, s. 6, eff. March 19, 1953.
Ā
The members of any limited partnership association shall not be liable underĀ any judgment or order obtained against the association, or for any debt orĀ engagement of the association, except that, if any execution, sequestration orĀ other process in the nature of execution be issued against the property orĀ effects of the association, and if there cannot be found sufficient thereof onĀ which to levy or enforce such process, such execution, sequestration or otherĀ process may be issued against any of the members to the extent of the portionsĀ of their subscriptions respectively, in the capital of the association not thenĀ paid up.
Amended by L.1953, c. 40, p. 760, s. 6, eff. March 19, 1953.
Ā