Okla. Stat. tit. 60, § 60-1609.6
This is the official text of Okla. Stat. tit. 60, § 60-1609.6, part of Oklahoma’s Stat. tit. 60, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 60,." Browse the sections below, each linked to its official government source.
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Interest as general partner
Official statutory text
A. Except as otherwise provided in subsection C of this section
or unless personal liability is imposed in the contract, a trustee
who holds an interest as a general partner in a general or limited
partnership is not personally liable on a contract entered into by
the partnership after the trust's acquisition of the interest if the
fiduciary capacity was disclosed in the contract or in a statement
previously filed pursuant to the Oklahoma Revised Uniform
Partnership Act or Oklahoma Uniform Limited Partnership Act of 2010.
B. Except as otherwise provided in subsection C of this
section, a trustee who holds an interest as a general partner is not
personally liable for torts committed by the partnership or for
obligations arising from ownership or control of the interest unless
the trustee is personally at fault.
C. The immunity provided by this section does not apply if an
interest in the partnership is held by the trustee in a capacity
other than that of trustee or is held by the trustee's spouse or one
or more of the trustee's descendants, siblings, or parents, or the
spouse of any of them.
D. Except as otherwise provided by Oklahoma law, if the trustee
of a revocable trust holds an interest as a general partner, the
settlor is personally liable for contracts and other obligations of
the partnership as if the settlor were a general partner.
or unless personal liability is imposed in the contract, a trustee
who holds an interest as a general partner in a general or limited
partnership is not personally liable on a contract entered into by
the partnership after the trust's acquisition of the interest if the
fiduciary capacity was disclosed in the contract or in a statement
previously filed pursuant to the Oklahoma Revised Uniform
Partnership Act or Oklahoma Uniform Limited Partnership Act of 2010.
B. Except as otherwise provided in subsection C of this
section, a trustee who holds an interest as a general partner is not
personally liable for torts committed by the partnership or for
obligations arising from ownership or control of the interest unless
the trustee is personally at fault.
C. The immunity provided by this section does not apply if an
interest in the partnership is held by the trustee in a capacity
other than that of trustee or is held by the trustee's spouse or one
or more of the trustee's descendants, siblings, or parents, or the
spouse of any of them.
D. Except as otherwise provided by Oklahoma law, if the trustee
of a revocable trust holds an interest as a general partner, the
settlor is personally liable for contracts and other obligations of
the partnership as if the settlor were a general partner.
Status: in_force · Read it on the official government site
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