2011 Iowa Code
TITLE XII BUSINESS ENTITIES
SUBTITLE 1 PARTNERSHIPS
CHAPTER 488 UNIFORM LIMITED PARTNERSHIP ACT
488.303 No liability as limited partner for limited partnership obligations.
488.303 No liability as limited partner for limited partnership obligations.
An obligation of a limited partnership, whether arising in contract, tort, or otherwise, is not the obligation of a limited partner. A limited partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for an obligation 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.
2004 Acts, ch 1021, §31, 118
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