If you are a general partner in a limited partnership, you are responsible for anything that goes wrong. You are jointly and severally liable with the limited partnership and the other general partners for a wrong or omission by the limited partnership occurring while you are a general partner. This means you can be held responsible for the actions of the limited partnership.
You are liable for things that happen while you are a general partner. This includes things that the limited partnership does or does not do. You are liable along with the limited partnership and the other general partners.
This rule is affected by section 28, which has more information about your liability as a general partner.
This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.
View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1139170.
This page was last updated on — View changes
Each general partner is jointly and severally liable with the limited partnership and the other general partners for a wrong or omission by the limited partnership occurring while that person is a general partner.
This section is subject to section 28.
