Okla. Stat. tit. 54, § 54-500-404A
This is the official text of Okla. Stat. tit. 54, § 54-500-404A, 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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General partner's liability
Official statutory text
GENERAL PARTNER’S LIABILITY.
(a) Except as otherwise provided in subsections (b) and (c) of
this section, all general partners are liable jointly and severally
for all obligations of the limited partnership unless otherwise
agreed by the claimant or provided by law.
(b) A person that becomes a general partner of an existing
limited partnership is not personally liable for an obligation of a
limited partnership incurred before the person became a general
partner.
(c) An obligation of a limited partnership incurred while the
limited partnership is a limited liability limited partnership,
whether arising in contract, tort, or otherwise, is solely the
obligation of the limited partnership. A general partner is not
personally liable, directly or indirectly, by way of contribution or
otherwise, for such an obligation solely by reason of being or
acting as a general partner. This subsection applies despite
anything inconsistent in the partnership agreement that existed
immediately before the consent required to become a limited
liability limited partnership under paragraph (2) of subsection (b)
of Section 40 of this act.
(a) Except as otherwise provided in subsections (b) and (c) of
this section, all general partners are liable jointly and severally
for all obligations of the limited partnership unless otherwise
agreed by the claimant or provided by law.
(b) A person that becomes a general partner of an existing
limited partnership is not personally liable for an obligation of a
limited partnership incurred before the person became a general
partner.
(c) An obligation of a limited partnership incurred while the
limited partnership is a limited liability limited partnership,
whether arising in contract, tort, or otherwise, is solely the
obligation of the limited partnership. A general partner is not
personally liable, directly or indirectly, by way of contribution or
otherwise, for such an obligation solely by reason of being or
acting as a general partner. This subsection applies despite
anything inconsistent in the partnership agreement that existed
immediately before the consent required to become a limited
liability limited partnership under paragraph (2) of subsection (b)
of Section 40 of this act.
Status: in_force · Read it on the official government site
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