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Current as of March 08, 2022 | Updated by FindLaw Staff
A. Except to the extent that personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust's acquisition of the interest if the fiduciary capacity was disclosed in the contract or in a statement previously filed pursuant to the uniform partnership act or the uniform limited partnership act.
B. A trustee who holds an interest as a general partner is not personally liable for torts committed by the partnership or for obligations arising from ownership or control of the interest unless the trustee is personally at fault.
Cite this article: FindLaw.com - Arizona Revised Statutes Title 14. Trusts, Estates and Protective Proceedings § 14-11011. Interest as general partner - last updated March 08, 2022 | https://codes.findlaw.com/az/title-14-trusts-estates-and-protective-proceedings/az-rev-st-sect-14-11011/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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