Acts and Regulations

P-4 - Partnership Act

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Partners subject to same liabilities as corporate directors
49(1)Partners in a New Brunswick limited liability partnership are personally liable for any partnership obligation for which they would be liable if the partnership were a corporation of which they were the directors.
49(2)Where a corporation is a partner in a New Brunswick limited liability partnership, the directors of the corporation are jointly and severally liable for any liability imposed on the corporation under subsection (1).
2003, c.13, s.2