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2017 California Code
Corporations Code - CORP
TITLE 2 - PARTNERSHIPS
CHAPTER 4.5 - Uniform Limited Partnership Act of 2008
ARTICLE 4 - General Partners
Universal Citation: CA Corp Code § 15904.04 (2017)
(a) Except as otherwise provided in subdivision (b), 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.
(Added by Stats. 2006, Ch. 495, Sec. 20. Effective January 1, 2007. Section operative January 1, 2008, pursuant to Section 15912.04.)
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