Acts and Regulations

P-4 - Partnership Act

Section 48
Disposition versions

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Limited liability of partners
48(1)Except as expressly provided in this Part, in another Act or in an agreement, a partner in a New Brunswick limited liability partnership
(a) is not personally liable for a partnership obligation solely by reason of being a partner,
(b) is not personally liable for an obligation under an agreement between the partnership and another person, and
(c) is not personally liable to the partnership or another partner by way of contribution, indemnity or otherwise, in respect of an obligation to which paragraph (a) or (b) applies.
48(2)Subsection (1) does not relieve a person who is a partner in a New Brunswick limited liability partnership from personal liability for the person’s negligence, wrongful act or omission, malpractice or misconduct for which the person would be personally liable if the person were not a partner.
48(2.1)Unless the circumstances referred to in subsection (2) apply, a partner in a New Brunswick limited liability partnership is not a proper party to a proceeding by or against the New Brunswick limited liability partnership that claims relief in respect of partnership obligations.
48(3)Subsection (1) does not protect the interest in the partnership property of a partner in a New Brunswick limited liability partnership from claims against the partnership respecting a partnership obligation.
2003, c.13, s.2; 2022, c.2, s.4
Limited liability of partners
48(1)Except as expressly provided in this Part, in another Act or in an agreement, a partner in a New Brunswick limited liability partnership
(a) is not personally liable for a partnership obligation solely by reason of being a partner,
(b) is not personally liable for an obligation under an agreement between the partnership and another person, and
(c) is not personally liable to the partnership or another partner by way of contribution, indemnity or otherwise, in respect of an obligation to which paragraph (a) or (b) applies.
48(2)Subsection (1) does not relieve a person who is a partner in a New Brunswick limited liability partnership from personal liability for the person’s negligence, wrongful act or omission, malpractice or misconduct for which the person would be personally liable if the person were not a partner.
48(3)Subsection (1) does not protect the interest in the partnership property of a partner in a New Brunswick limited liability partnership from claims against the partnership respecting a partnership obligation.
2003, c.13, s.2
Limited liability of partners
48(1)Except as expressly provided in this Part, in another Act or in an agreement, a partner in a New Brunswick limited liability partnership
(a) is not personally liable for a partnership obligation solely by reason of being a partner,
(b) is not personally liable for an obligation under an agreement between the partnership and another person, and
(c) is not personally liable to the partnership or another partner by way of contribution, indemnity or otherwise, in respect of an obligation to which paragraph (a) or (b) applies.
48(2)Subsection (1) does not relieve a person who is a partner in a New Brunswick limited liability partnership from personal liability for the person’s negligence, wrongful act or omission, malpractice or misconduct for which the person would be personally liable if the person were not a partner.
48(3)Subsection (1) does not protect the interest in the partnership property of a partner in a New Brunswick limited liability partnership from claims against the partnership respecting a partnership obligation.
2003, c.13, s.2