§ 31 §1354 — General partner's liability

Maine § 31 §1354

• Jurisdiction: Maine
• Title 31: PARTNERSHIPS AND ASSOCIATIONS
• Ch. 19: UNIFORM LIMITED PARTNERSHIP ACT

Text

1.
Joint and several liability.
Except as otherwise provided in subsections 2 and 3, all general partners are liable jointly and severally for all obligations of the limited partnership unless otherwise agreed by the claimant or provided by law.
2.
Pre-existing obligation.
A person that becomes a general partner of an existing limited partnership is not personally liable for an obligation of a limited partnership incurred before the person became a general partner.
3.
Obligation of limited liability limited partnership.
Subject to the provisions of subsection 4, an obligation of a limited partnership incurred while the limited partnership is a limited liability limited partnership, whether arising in contract, tort or otherwise, is solely the obligation of the limited partnership. A general partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for such an obligation solely by reason of being or acting as a general partner. This subsection applies despite anything inconsistent in the partnership agreement that existed immediately before the consent required to become a limited liability limited partnership under section 1356, subsection 2, paragraph B.
4.
Professional limited liability limited partnership exception.
A partner of a professional limited liability limited partnership is jointly and severally liable for claims arising from the rendering of a professional service by such a professional limited liability partnership if that partner:

Legislative History

PL 2005, c. 543, §C2 (NEW).