Ala. Code § 10A-9A-3.03

Current with legislation from 2024 effective through May 17, 2024.
Section 10A-9A-3.03 - No 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.

Ala. Code § 10A-9A-3.03 (1975)

Added by Act 2016-379,§ 1, eff. 1/1/2017.