Acts and Regulations

P-5 - Partnerships and Business Names Registration Act

Section 8.87
Disposition versions

Full text
Lack of mandatory insurance
8.87A New Brunswick limited liability partnership or an extra-provincial limited liability partnership shall be treated as an ordinary partnership with respect to the rights and obligations that are acquired or incurred by the partnership under New Brunswick laws during a period in which
(a) the partnership is carrying on business in New Brunswick, and
(b) one or more partners in or employees of the partnership no longer have the minimum amount of liability insurance that the governing Act of the eligible profession, a regulation made under that Act or the governing body requires, as provided for in paragraph 8.1(2)(c) or 8.6(2)(c), as the case may be.
2003, c.14, s.7
Lack of mandatory insurance
8.87A New Brunswick limited liability partnership or an extra-provincial limited liability partnership shall be treated as an ordinary partnership with respect to the rights and obligations that are acquired or incurred by the partnership under New Brunswick laws during a period in which
(a) the partnership is carrying on business in New Brunswick, and
(b) one or more partners in or employees of the partnership no longer have the minimum amount of liability insurance that the governing Act of the eligible profession, a regulation made under that Act or the governing body requires, as provided for in paragraph 8.1(2)(c) or 8.6(2)(c), as the case may be.
2003, c.14, s.7