NRS 87.433: Liability of partners.
Where this section sits in the code
- TITLE 7 — BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES
- CHAPTER 87 - PARTNERSHIPS
- UNIFORM PARTNERSHIP ACT (1997)
- Relations of Partners to Persons Dealing With Partnership
1. Except as otherwise provided in subsections 2 and 3, all partners are liable jointly and severally for all obligations of the partnership unless otherwise agreed by the claimant or provided by law.
2. A person admitted as a partner into an existing partnership is not personally liable for any partnership obligation incurred before the person’s admission as a partner.
3. An obligation of a partnership incurred while the partnership is a registered limited-liability partnership, whether arising in contract, tort or otherwise, is solely the obligation of the partnership. A partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for such an obligation solely by reason of being or so acting as a partner. This subsection applies notwithstanding anything inconsistent in the partnership agreement that existed immediately before the filing of a certificate of registration pursuant to NRS 87.440.
Collected 2026-09-03T05:51:31Z. Source file · JSON