Section 1775.16. Liability of incoming partner for existing obligations

Latest version.

Effective January 1, 2010, Chapter 1775 is repealed and no longer governs partnerships. 2008 HB332.
A person admitted as a partner into an existing partnership is liable for all the obligations of the partnership arising before his admission as though he had been a partner when such obligations were incurred, except that this liability shall be satisfied only out of partnership property.

Effective Date: 10-01-1953; 2008 HB332 01-01-2010

                    
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