Tennessee § 35-15-1011 - Interest as general partner.
Full text of Tennessee Tennessee Code Annotated § 35-15-1011 — Interest as general partner., with citation guidance and answers to common questions.
§ 35-15-1011. Interest as general partner.
Except as otherwise provided in subsection (c) or unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust's acquisition of the interest if the fiduciary capacity was disclosed in the contract or in a statement previously filed pursuant to the Uniform Partnership Act, compiled in title 61, chapter 1, or the Uniform Limited Partnership Act, compiled in title 61, chapter 2. Except as otherwise provided in subsection (c), a trustee who holds an interest as a general partner is not personally liable for torts committed by the partnership or for obligations arising from ownership or control of the interest unless the trustee is personally at fault on account of the trustee's own willful misconduct proven by clear and convincing evidence. The immunity provided by this section does not apply if an interest in the partnership is held by the trustee in a capacity other than that of trustee. If the trustee of a revocable trust holds an interest as a general partner, the settlor is personally liable for contracts and other obligations of the partnership as if the settlor were a general partner. Acts 2004, ch. 537, § 87; 2010, ch. 725, §§ 11, 12.
Frequently Asked Questions About Tennessee § 35-15-1011
What does Tennessee Code Annotated § 35-15-1011 cover?
Section 35-15-1011 ("Interest as general partner.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. 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 Tennessee § 35-15-1011?
A common citation format is "Tennessee Code Annotated § 35-15-1011" (Tennessee). 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 Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 35-15-1011 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee 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 Tennessee.