16-19-303. No liability as limited partner for limited partnership obligations.
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/ut/title-16/chapter-19/16-19-303A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 10/1/2026
16-19-303. No liability as limited partner for limited partnership obligations.
(a)A debt, obligation, or other liability of a limited partnership is not the debt, obligation, or other liability of a limited partner.
(b)A limited partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of the limited partnership solely by reason of being or acting as a limited partner, even if the limited partner participates in the management and control of the limited partnership.
(2)The failure of a limited partnership to observe formalities relating to the exercise of the limited partnership's powers or management of the limited partnership's activities and affairs is not a ground for imposing liability on a limited partner for a debt, obligation, or other liability of the limited partnership.
Renumbered and Amended by Chapter 93 , 2026 General Session