Nevada § 87A.365 - Liability of general partner
Full text of Nevada Nevada Revised Statutes § 87A.365 — Liability of general partner, with citation guidance and answers to common questions.
§ 87A.365. Liability of general partner
1. Except as otherwise provided in subsections 2 and 3, 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. 2. 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. 3. An obligation of a limited partnership incurred while the limited partnership is
a registered 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 registered limited-liability
limited partnership under paragraph (b) of subsection 2 of NRS 87A.375 .
Frequently Asked Questions About Nevada § 87A.365
What does Nevada Revised Statutes § 87A.365 cover?
Section 87A.365 ("Liability of general partner") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 87A.365?
A common citation format is "Nevada Revised Statutes § 87A.365" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 87A.365 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.