The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
003
:
RELATIONS OF PARTNERS TO PERSONS DEALING WITH PARTNERSHIP
(Cite as: 11 V.S.A. § 3226)
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§ 3226. Partner’s liability
(a) Except as otherwise provided in subsections (b) and (c) of this section, all partners
are liable jointly and severally for all obligations of the partnership unless otherwise
agreed by the claimant or provided by law.
(b) A person admitted as a partner into an existing partnership is not personally liable
for any partnership obligation incurred before the person’s admission as a partner.
(c) An obligation of a partnership incurred while the partnership is a limited liability
partnership, whether arising in contract, tort, or otherwise, is solely the obligation
of the partnership. A partner is not personally liable, directly or indirectly, by
way of contribution or otherwise, for such an obligation solely by reason of being
or so acting as a partner. This subsection applies notwithstanding anything inconsistent
in the partnership agreement that existed immediately before the vote required to
become a limited liability partnership under subsection 3291(b) of this title. (Added 1997, No. 149 (Adj. Sess.), § 1, eff. Jan. 1, 1999.)