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Nevada · Through 2025 session (NRS as revised 2026-08-25) · Newer source version available

NRS 87A.365: Liability of general partner.

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Where this section sits in the code
  1. TITLE 7 — BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES
  2. CHAPTER 87A - UNIFORM LIMITED PARTNERSHIP ACT (2001)
  3. GENERAL PARTNERS

1. Except as otherwise provided in subsections 2 and 3, all general partners are liable jointly and severally for all obligations of the limited partnership unless otherwise agreed by the claimant or provided by law.

2. A person that becomes a general partner of an existing limited partnership is not personally liable for an obligation of a limited partnership incurred before the person became a general partner.

3. An obligation of a limited partnership incurred while the limited partnership is a registered limited-liability limited partnership, whether arising in contract, tort or otherwise, is solely the obligation of the limited partnership. A general partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for such an obligation solely by reason of being or acting as a general partner. This subsection applies despite anything inconsistent in the partnership agreement that existed immediately before the consent required to become a registered limited-liability limited partnership under paragraph (b) of subsection 2 of NRS 87A.375.

Collected 2026-09-03T05:51:31Z. Source file · JSON

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