35-12-703. No liability as limited partner for limited partnership obligations, MCA
  1. MCA Contents
  2. TITLE 35
  3. CHAPTER 12
  4. Part 7
  5. 35-12-703 No liability as limited partner for limited partnership obligations

Montana Code Annotated 2017

TITLE 35. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

CHAPTER 12. LIMITED PARTNERSHIPS

Part 7. Limited Partners

No Liability As Limited Partner For Limited Partnership Obligations

35-12-703. No liability as limited partner for limited partnership obligations. An obligation of a limited partnership, whether arising in contract, tort, or otherwise, is not the obligation of a limited partner. A limited partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for an obligation of a limited partnership solely by reason of being a limited partner even if the limited partner participates in the management and control of the limited partnership.

History: En. Sec. 22, Ch. 522, L. 1981; amd. Sec. 17, Ch. 268, L. 1997; amd. Sec. 40, Ch. 7, L. 2001; amd. Sec. 28, Ch. 216, L. 2011.