§ 8444. Liability for contribution.
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/pa/title-15/chapter-84/8444A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 8444. Liability for contribution.
(a)Obligation not excused.-- A person's obligation to make a contribution to a partnership is not excused by the person's death, disability, termination or other inability to perform personally.
(b)Substitute payment.-- If a person does not fulfill an obligation to make a contribution other than money, the person is obligated, at the option of the partnership, to contribute money equal to the value, as stated in the records of the partnership, of the part of the contribution which has not been made.
(c)Compromise of obligation.-- The obligation of a person to make a contribution may be compromised only by the affirmative vote or consent of all the partners. If a creditor of a limited liability partnership extends credit or otherwise acts in reliance on an obligation described under subsection
(a)without knowledge or notice of a compromise under this subsection, the creditor may enforce the obligation.
15c8445s