§ 54-500-303A. No liability as limited partner for limited partnership obligations.  


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  • NO LIABILITY AS LIMITED PARTNER FOR LIMITED PARTNERSHIP OBLIGATIONS.

    An obligation of a limited partnership, whether arising in contract, tort, or otherwise, is not the obligation of a limited partner.  A limited partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for an obligation of the limited partnership solely by reason of being a limited partner, even if the limited partner participates in the management and control of the limited partnership.

Added by Laws 2010, c. 384, § 31, eff. Jan. 1, 2011.