{"data":{"id":"us-nm/54-2a-404","jurisdiction":"us-nm","citation":"54-2A-404","heading":"General partner's liability.","body":"A. Except as otherwise provided in Subsections B and C of this section, 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.\nB. 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.\nC. An obligation of a limited partnership incurred while the limited partnership is a 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 limited liability limited partnership pursuant to Paragraph (2) of Subsection B of Section 406 [54-2A-406 NMSA 1978] of the Uniform Revised Limited Partnership Act.","path":["Chapter 54 - Partnerships","ARTICLE 2A Uniform Revised Limited Partnership Act"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18557/index.do","current_through":"2022-05-12","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"f7f47c182b8fb26fda6225791bba163870149e30ade749a108be49d042de5e38","source_id":"us-nm","stale":false,"prev":"us-nm/54-2a-403","next":"us-nm/54-2a-405"},"notice":"GroundRules: Original legal text. Not legal advice."}