Rhode Island § 7-12-7 § 7-12-7. Insolvency or absconding of partner.

Rhode Island Statutes

§ 7-12-7 — § 7-12-7. Insolvency or absconding of partner.

Rhode Island § 7-12-7

Title 7Corporations, Associations and Partnerships

Ch. 7-12Partnerships

This text of Rhode Island § 7-12-7 (§ 7-12-7. Insolvency or absconding of partner.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 7-12-7 (2026).

Text

§ 7-12-7. Insolvency or absconding of partner.
A composition or compromise in no way affects the right of the other copartners or
            any of them to call on the person making the compromise for any sum beyond the person's
            original portion of the debt, if in consequence of the insolvency, inability to pay
            or absconding of any one of the copartners, the person so compromising becomes liable
            to pay more than his or her proportion of the debt.
         

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§ 7-12-7. Insolvency or absconding of partner.

A composition or compromise in no way affects the right of the other copartners or any of them to call on the person making the compromise for any sum beyond the person's original portion of the debt, if in consequence of the insolvency, inability to pay or absconding of any one of the copartners, the person so compromising becomes liable to pay more than his or her proportion of the debt.