Acts and Regulations

P-4 - Partnership Act

Section 54
Disposition versions

Full text
Law of governing jurisdiction applies
54(1)In this section
“eligible profession” means eligible profession as defined in the Partnerships and Business Names Registration Act.
54(2)Except as expressly provided in another Act, the law of the governing jurisdiction of an extra-provincial limited liability partnership applies
(a) to the organization and internal affairs of the extra-provincial limited liability partnership, and
(b) to the liability of the partners in the extra-provincial limited liability partnership for debts, obligations and liabilities of or chargeable to the partnership.
54(3)Notwithstanding subsection (2), a partner in an extra-provincial limited liability partnership does not have any greater protection against personal liability with respect to his or her practice of an eligible profession in New Brunswick than a partner in a New Brunswick limited liability partnership would have under this Part.
2003, c.13, s.2