Wyoming Statutes
§ 17-14-503 — General powers and liabilities
Wyoming·Title 17 Corporations, Partnerships and Associations·Ch. 14 LIMITED PARTNERSHIPS·Art. 5 GENERAL PARTNERS
(a)Except as provided in this act, in subsections (b) and
(c)of this section or in the partnership agreement, a general
partner of a limited partnership has the rights and powers and
is subject to the restrictions and liabilities of a partner in a
partnership without limited partners.
(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
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
Free access — add to your briefcase to read the full text and ask questions with AI
Wyoming § 17-14-503 (General powers and liabilities) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 17-14-1001
Law governing§ 17-14-1002
Registration§ 17-14-1003
Issuance of registration§ 17-14-1004
Name§ 17-14-1005
Changes and amendments§ 17-14-1006
Cancellation of registration§ 17-14-1007
Transaction of business without registration§ 17-14-1008
Action by secretary of state§ 17-14-1009
Applicability of other provisions§ 17-14-101
Repealed by Laws 1979, ch. 153, § 3§ 17-14-1010
Continuance of a foreign limited partnership§ 17-14-1012
Execution of application§ 17-14-1013
Issuance of certificate of continuance§ 17-14-1014
Effect of certification