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Statutory Provisions

Home Acts & Rules Bill Bills Limited Liability Partnership Bill, 2008 This

Clause 28 - Extent of liability of partner - Limited Liability Partnership Bill, 2008

Limited Liability Partnership Bill, 2008
  • Contents

Extent of liability of partner.

28. (1) A partner is not personally liable, directly or indirectly for an obligation referred to in sub-section (3) of section 27 solely by reason of being a partner of the limited liability partnership.

(2) The provisions of sub-section (3) of section 27 and sub-section (1) of this section shall not affect the personal liability of a partner for his own wrongful act or omission but a partner shall not be personally liable for the wrongful act or omission of any other partner of the limited liability partnership.

 
 
 
 

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