48-1-12 - Nature of partner's liability.
48-1-12. Nature of partner's liability.
(1) Except as provided in Subsection (2), all partners are liable:
(a) jointly and severally for everything chargeable to the partnership under Sections48-1-10 and 48-1-11.
(b) jointly for all other debts and obligations of the partnership, except a partner mayenter into a separate obligation to perform a partnership contract.
(2) (a) A partner in a limited liability partnership is not liable, directly or indirectly,including by way of indemnification, contribution or otherwise, for a debt, obligation, or liabilitychargeable to the partnership arising from negligence, wrongful acts, or misconduct committedwhile the partnership is registered as a limited liability partnership and in the course of thepartnership business by another partner, or an employee, agent, or representative of the limitedliability partnership.
(b) Notwithstanding Subsection (2)(a), a partner in a limited liability partnership is liablefor his own negligence, wrongful acts, or misconduct.
Amended by Chapter 61, 1994 General Session