Home Table of Contents

§ 8436. Partner's liability

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 15 Pa.C.S.A. Corporations and Unincorporated AssociationsEffective: February 21, 2017

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 15 Pa.C.S.A. Corporations and Unincorporated Associations (Refs & Annos)
Part III. Partnerships and Limited Liability Companies (Refs & Annos)
Chapter 84. General Partnerships (Refs & Annos)
Subchapter C. Relations of Partners to Persons Dealing with Partnership
Effective: February 21, 2017
15 Pa.C.S.A. § 8436
Formerly cited as PA ST 15 Pa.C.S.A. § 8327;  PA ST 15 Pa.C.S.A. § 8329;  PA ST 15 Pa.C.S.A. § 8363
§ 8436. Partner's liability
Currentness
(a) General rule.--Except as provided in subsection (b) or section 8204 (relating to limitation on liability of partners), all partners are jointly and severally liable for all debts, obligations and other liabilities of the partnership unless otherwise agreed by the claimant or provided by law.
(b) Preexisting liabilities.--A person that becomes a partner is not personally liable for a debt, obligation or other liability of the partnership incurred before the person became a partner.

Credits

2016, Nov. 21, P.L. 1328, No. 170, § 25, effective in 90 days [Feb. 21, 2017].
15 Pa.C.S.A. § 8436, PA ST 15 Pa.C.S.A. § 8436
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document