35-10-309. Liability of incoming partner. A person admitted as a partner into a partnership is liable for all obligations of the partnership incurred before the person's admission as if the person were a partner when the obligations were incurred, but the liability may be satisfied only out of partnership property.
History: En. Sec. 17, Ch. 251, L. 1947; R.C.M. 1947, 63-209; amd. Sec. 23, Ch. 238, L. 1993.
Structure Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 10. Partnerships in General
Part 3. Relation of Partner and Partnership to Other Persons
35-10-301. Partner as agent of partnership
35-10-302. Transfer of partnership property
35-10-305. Partnership liable for partner's actionable conduct
35-10-307. Partner's liability
35-10-309. Liability of incoming partner
35-10-310. Statement of partnership authority