One partner of a limited liability partnership created under the Limited Liability Partnership Act shall not be liable with his/her personal assets beyond his/her contribution thereto for the debts and obligations of the partnership or of any other partner or partners that arise as a result of an error, omission, negligence, incompetence or illegal act committed by another partner or employee, agent or representative of the partnership, unless:
(a) At the moment the act was committed, he/she was involved, whether directly or through any person under his/her direct control and supervision, in the activity that caused damages to a third party, or
(b) he/she had notice or knowledge of the act that caused damage to a third party.
A partner of a limited liability partnership shall not be liable for the partnership’s obligations and debts that arise for any other cause that differs from those listed above. None of these provisions shall be interpreted in such manner that it will affect the partnership’s liability for the obligations and debts thereof.
The withdrawal, termination or revocation of a limited liability partnership shall not affect the application of the provisions granted in this section for the debts and obligations incurred while the partnership was duly registered as such.
History —Aug. 20, 1996, No. 154, § 8.