New Mexico Statutes
§ 54-2A-404 — General partner's liability
New Mexico § 54-2A-404
This text of New Mexico § 54-2A-404 (General partner's liability) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.M. Stat. Ann. § 54-2A-404 (2026).
Text
A.Except as otherwise provided in Subsections B and C of this section, 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.
B.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.
C.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 reaso
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Legislative History
Laws 2007, ch. 129, § 404.
Nearby Sections
15
§ 54-1-48
Repealed§ 54-1A-1001
Statement of qualification§ 54-1A-1002
Statement of qualification; name§ 54-1A-1003
Annual report§ 54-1A-101
Definitions§ 54-1A-102
Knowledge and notice§ 54-1A-103
Effect of partnership agreement; nonwaivable§ 54-1A-104
Supplemental principles of law§ 54-1A-106
Governing law§ 54-1A-1102
Statement of foreign qualification§ 54-1A-1103
Effect of failure to qualifyCite This Page — Counsel Stack
Bluebook (online)
New Mexico § 54-2A-404, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/54/54-2A-404.