There is a newer version
of
this Section
2019 New Jersey Revised Statutes
Title 42 - Partnerships and Partnership Associations
Section 42:3-9 - Liability of individual members; executions
Universal Citation: NJ Rev Stat § 42:3-9 (2019)
42:3-9. Liability of individual members; executions
The members of any limited partnership association shall not be liable under any judgment or order obtained against the association, or for any debt or engagement of the association, except that, if any execution, sequestration or other process in the nature of execution be issued against the property or effects of the association, and if there cannot be found sufficient thereof on which to levy or enforce such process, such execution, sequestration or other process may be issued against any of the members to the extent of the portions of their subscriptions respectively, in the capital of the association not then paid up.
Amended by L.1953, c. 40, p. 760, s. 6, eff. March 19, 1953.
Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
