§ 19-1310.11 — Interest as general partner.

District of Columbia § 19-1310.11

• Jurisdiction: District of Columbia
• Title 19: Descent, Distribution, and Trusts. [Enacted title]
• Ch. 13: Uniform Trust Code.
• Subch. X: Liability of Trustees and Rights of Persons Dealing with Trustee.

Text

(a) Unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust’s acquisition of the interest if the fiduciary capacity was disclosed in the contract or in a statement previously filed pursuant to D.C. Official Code §§ 33-101.01 through 33-112.04 (Uniform Partnership Act of 1996), or D.C. Official Code §§ 33-201.01 through 33-211.07 (Uniform Limited Partnership Act of 1987).

(b) Except as otherwise provided in subsection (c) of this section, a trustee who holds an interest as a general partner is not personally liable for torts committed by the partnership or for obligations arising from ownership or control of the interest unless the trustee is personally at fault.

(c) If the trustee of a revocable trust holds an interest as a general partner, the settlor is personally liable for contracts and other obligations of the partnership as if the settlor were a general partner.

Legislative History

Mar. 10, 2004, D.C. Law 15-104, § 2(b), 51 DCR 208