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Code · North Carolina · Chapter 59 — Partnership

§ 59-303. Liability to third parties.

66 words·~1 min read·/nc/chapter-59/59-303

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§ 59-303. Liability to third parties.
A limited partner is not liable for the obligations of a limited partnership by reason of being a limited partner and does not become liable for the obligations of a limited partnership by participating in the management or control of the business of the limited partnership. (1985 (Reg. Sess., 1986), c. 989, s. 2; 1997-456, s. 27; 1999-362, s. 18.)
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