35-10-309. Liability of incoming partner, MCA

Montana Code Annotated 2019

TITLE 35. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

CHAPTER 10. PARTNERSHIPS IN GENERAL

Part 3. Relation of Partner and Partnership to Other Persons

Liability Of Incoming Partner

35-10-309. Liability of incoming partner. A person admitted as a partner into a partnership is liable for all obligations of the partnership incurred before the person's admission as if the person were a partner when the obligations were incurred, but the liability may be satisfied only out of partnership property.

History: En. Sec. 17, Ch. 251, L. 1947; R.C.M. 1947, 63-209; amd. Sec. 23, Ch. 238, L. 1993.