A debt, obligation, or other liability of a limited partnership, whether arising in contract, tort, or otherwise, is not the debt, obligation, or other liability of a limited partner. A limited partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of the limited partnership solely by reason of being a limited partner, even if the limited partner participates in the management and control of the limited partnership.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 9A - Alabama Limited Partnership Law.
Section 10A-9A-3.01 - Admission of Limited Partner.
Section 10A-9A-3.02 - No Right or Power as Limited Partner to Bind Limited Partnership.
Section 10A-9A-3.03 - No Liability as Limited Partner for Limited Partnership Obligation.
Section 10A-9A-3.04 - Right of Limited Partner and Former Limited Partner to Information.
Section 10A-9A-3.05 - Limited Duties of Limited Partners.
Section 10A-9A-3.06 - Person Erroneously Believing Self to Be Limited Partner.