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What's New Important due dates for the month of September 2021     

21. Limited liability of partners

(1) Any obligation of a limited liability partnership whether arising in contract, tort or otherwise, is solely the obligation of the limited liability partnership.

(2) A partner is not personally liable, directly or indirectly, by way of indemnification, contribution, assessment or otherwise, for an obligation referred to in subsection (1) solely by reason of being a partner of the limited liability partnership.
 
(3) subsections (1) and (2) shall not affect the personal liability of a partner in tort for his own wrongful act or omission, but a partner shall not be personally liable for the wrongful act or omission of any other partner of the limited liability partnership.
 
(4) Where a partner of a limited liability partnership is liable to any person, other than another partner of the limited liability partnership, as a result of that partner's wrongful act or omission in the course of the business of the limited liability partnership or with its authority, the limited liability partnership is liable to the same extent as the partner.
 
(5) The liabilities of the limited liability partnership shall be borne out of the property of the limited liability partnership.
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