Okla. Stat. tit. 54, § 54-1-307
This is the official text of Okla. Stat. tit. 54, § 54-1-307, part of Oklahoma’s Stat. tit. 54, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 54,." Browse the sections below, each linked to its official government source.
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Actions By and Against Partnership and Partners
Official statutory text
Actions By and Against Partnership and Partners. (a) A
partnership may sue and be sued in the name of the partnership.
(b) An action may be brought against the partnership and, to
the extent not inconsistent with Section 18 of this act, any or all
of the partners in the same action or in separate actions.
(c) A judgment against a partnership is not by itself a
judgment against a partner. A judgment against a partnership may
not be satisfied from a partner's assets unless there is also a
judgment against the partner.
(d) A judgment creditor of a partner may not levy execution
against the assets of the partner to satisfy a judgment based on a
claim against the partnership unless the partner is personally
liable for the claim under Section 18 of this act and:
(1) a judgment based on the same claim has been obtained
against the partnership and a writ of execution on the judgment has
been returned unsatisfied in whole or in part;
(2) the partnership is a debtor in bankruptcy;
(3) the partner has agreed that the creditor need not exhaust
partnership assets;
(4) a court grants permission to the judgment creditor to levy
execution against the assets of a partner based on a finding that
partnership assets subject to execution are clearly insufficient to
satisfy the judgment, that exhaustion of partnership assets is
excessively burdensome, or that the grant of permission is an
appropriate exercise of the court's equitable powers; or
(5) liability is imposed on the partner by law or contract
independent of the existence of the partnership.
Oklahoma Statutes - Title 54. Partnership Page 22
(e) This section applies to any partnership liability or
obligation resulting from a representation by a partner or purported
partner under Section 20 of this act.
partnership may sue and be sued in the name of the partnership.
(b) An action may be brought against the partnership and, to
the extent not inconsistent with Section 18 of this act, any or all
of the partners in the same action or in separate actions.
(c) A judgment against a partnership is not by itself a
judgment against a partner. A judgment against a partnership may
not be satisfied from a partner's assets unless there is also a
judgment against the partner.
(d) A judgment creditor of a partner may not levy execution
against the assets of the partner to satisfy a judgment based on a
claim against the partnership unless the partner is personally
liable for the claim under Section 18 of this act and:
(1) a judgment based on the same claim has been obtained
against the partnership and a writ of execution on the judgment has
been returned unsatisfied in whole or in part;
(2) the partnership is a debtor in bankruptcy;
(3) the partner has agreed that the creditor need not exhaust
partnership assets;
(4) a court grants permission to the judgment creditor to levy
execution against the assets of a partner based on a finding that
partnership assets subject to execution are clearly insufficient to
satisfy the judgment, that exhaustion of partnership assets is
excessively burdensome, or that the grant of permission is an
appropriate exercise of the court's equitable powers; or
(5) liability is imposed on the partner by law or contract
independent of the existence of the partnership.
Oklahoma Statutes - Title 54. Partnership Page 22
(e) This section applies to any partnership liability or
obligation resulting from a representation by a partner or purported
partner under Section 20 of this act.
Status: in_force · Read it on the official government site
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