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2018 New Jersey Revised Statutes
Title 42 - PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS
Chapter 3 - Under authority of R.S. 42:3-1 et seq.
Section 42:3-5 - Contracting debts
Universal Citation: NJ Rev Stat § 42:3-5 (2018)
Section: 42:3-5: Contracting debts
No debt shall be contracted, or liability incurred for a limited partnership association, except by one or more of its managers, and no liability for an amount exceeding five hundred dollars, except against the person incurring it, shall bind the association, unless reduced to writing and signed by at least two managers.
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