As Amended
SEC. 79-12-29. Nature of partner's liability.
(1) Except as provided in Section 79-12-29 (2), all partners are liable jointly and severally for all debts and obligations of the partnership including those under Sections 79-12-25 and 79-12-27.
(2) Subject to Section 79-12-29 (3) and subject to any agreement between the partners, a partner in a limited liability partnership is not liable directly or indirectly (including by way of indemnification, contribution, assessment or otherwise) for debts, obligations and liabilities of or chargeable to the partnership, whether in tort, contract or otherwise, arising from omissions, negligence, wrongful acts, misconduct or malpractice committed while the partnership is a limited liability partnership and in the course of the partnership business by another partner or an employee, agent or representative of the partnership.
(3) Section 79-12-29 (2) shall not affect the liability of a partner in a limited liability partnership for his own omissions, negligence, wrongful acts, misconduct and malpractice and that of any person under his direct supervision and control.
(4) A partner in a limited liability partnership is not a proper party to a proceeding by or against a limited liability partnership, the object of which is to recover damages or enforce the obligations arising out of the acts, omissions, negligence, wrongful acts, malpractice or misconduct of the type described in Section 79-12-29 (2), unless such partner is personally liable under Section 79-12-29 (3).
SOURCES: Laws, 1976, ch. 407, Sec. 15; 1995, ch. 353, Sec. 3, eff from and after July 1, 1995