Nevada § 87A.465 - Liability to other persons of person withdrawn as general partner
Full text of Nevada Nevada Revised Statutes § 87A.465 — Liability to other persons of person withdrawn as general partner, with citation guidance and answers to common questions.
§ 87A.465. Liability to other persons of person withdrawn as general partner
1. A person's withdrawal as a general partner does not of itself discharge the person’s
liability as a general partner for an obligation of the limited partnership incurred
before withdrawal. Except as otherwise provided in subsections 2 and 3, the person is not liable for
a limited partnership's obligation incurred after withdrawal. 2. A person whose withdrawal as a general partner resulted in a dissolution and winding
up of the limited partnership's activities is liable to the same extent as a general
partner under NRS 87A.365 on an obligation incurred by the limited partnership under NRS 87A.505 . 3. A person that has withdrawn as a general partner but whose withdrawal did not result
in a dissolution and winding up of the limited partnership's activities is liable
on a transaction entered into by the limited partnership after the withdrawal only
if: (a) A general partner would be liable on the transaction; and (b) At the time the other party enters into the transaction: (1) Less than 2 years has passed since the withdrawal; and (2) The other party does not have notice of the withdrawal and reasonably believes
that the person is a general partner. 4. By agreement with a creditor of a limited partnership and the limited partnership,
a person withdrawn as a general partner may be released from liability for an obligation
of the limited partnership. 5. A person withdrawn as a general partner is released from liability for an obligation
of the limited partnership if the limited partnership's creditor, with notice of the
person's withdrawal as a general partner but without the person's consent, agrees
to a material alteration in the nature or time of payment of the obligation.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 87A.465
What does Nevada Revised Statutes § 87A.465 cover?
Section 87A.465 ("Liability to other persons of person withdrawn as general partner") is part of the Nevada Revised Statutes, the codified statutory law of Nevada.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.465?
A common citation format is "Nevada Revised Statutes § 87A.465" (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.465 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.