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2019 Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 9A - Alabama Limited Partnership Law.
Article 3 - Limited Partners.
Section 10A-9A-3.03 - No liability as limited partner for limited partnership obligation.
Universal Citation: AL Code § 10A-9A-3.03 (2019)
Section 10A-9A-3.03No liability as limited partner for limited partnership obligation.
A debt, obligation, or other liability of a limited partnership, whether arising in contract, tort, or otherwise, is not the debt, obligation, or other liability of a limited partner. A limited partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of the limited partnership solely by reason of being a limited partner, even if the limited partner participates in the management and control of the limited partnership.
(Act 2016-379, §1.)
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