New Hampshire Revised Statutes 304-A:15 – Nature of Partner’s Liability
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I. Except as provided in paragraph II, all partners are liable:
(a) Jointly and severally for everything chargeable to the partnership under N.H. Rev. Stat. § 304-A:13 and N.H. Rev. Stat. § 304-A:14.
(b) Jointly for all other debts and obligations of the partnership; but any partner may enter into a separate obligation to perform a partnership contract.
II. Subject to paragraph III, a partner in a registered 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 registered limited liability partnership and in the course of the partnership business by another partner or an employee, agent, or representative of the partnership.
III. Paragraph II shall not affect the liability of a partner in a registered limited liability partnership for the partner’s own omissions, negligence, wrongful acts, misconduct or malpractice, or that of any person under the partner’s direct supervision and control.
IV. A partner in a registered limited liability partnership is not a proper party to a proceeding by or against a registered limited liability partnership, the object of which is to recover damages or enforce the obligations arising out of the omissions, negligence, wrongful acts, misconduct or malpractice of the type described in paragraph II, unless such partner is personally liable under paragraph III.
(a) Jointly and severally for everything chargeable to the partnership under N.H. Rev. Stat. § 304-A:13 and N.H. Rev. Stat. § 304-A:14.
Terms Used In New Hampshire Revised Statutes 304-A:15
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
(b) Jointly for all other debts and obligations of the partnership; but any partner may enter into a separate obligation to perform a partnership contract.
II. Subject to paragraph III, a partner in a registered 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 registered limited liability partnership and in the course of the partnership business by another partner or an employee, agent, or representative of the partnership.
III. Paragraph II shall not affect the liability of a partner in a registered limited liability partnership for the partner’s own omissions, negligence, wrongful acts, misconduct or malpractice, or that of any person under the partner’s direct supervision and control.
IV. A partner in a registered limited liability partnership is not a proper party to a proceeding by or against a registered limited liability partnership, the object of which is to recover damages or enforce the obligations arising out of the omissions, negligence, wrongful acts, misconduct or malpractice of the type described in paragraph II, unless such partner is personally liable under paragraph III.