Connecticut General Statutes Title 45A. Probate Courts and Procedure § 45a-499xxx. Interest as general partner
Current as of June 28, 2021 | Updated by FindLaw Staff
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(a) Except as provided in subsection (c) of this section or unless 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, sections 34-300 to 34-399, inclusive, or the Uniform Limited Partnership Act, sections 34-9 to 34-38u, inclusive.
(b) Except as otherwise provided in subsection (c) of this section, 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.
(c) The immunity provided by this section does not apply if an interest in the partnership is held by the trustee in a capacity other than that of trustee or is held by the trustee's spouse or one or more of the trustee's descendants, siblings or parents, or the spouse of any of them.
(d) If the trustee of a revocable trust holds an interest as a general partner, the settlor is personally liable for contracts and other obligations of the partnership as if the settlor were a general partner.
Any person holding a miner's lien may foreclose the same in the same manner as a construction lien may be foreclosed. In an action for the foreclosure of such lien, each person claiming a lien upon the property charged must be made a party to the action, and the rights of all parties must be determined by the court and such order made in regard thereto as shall preserve and protect the rights of all parties.
Cite this article: FindLaw.com - Connecticut General Statutes Title 45A. Probate Courts and Procedure § 45a-499xxx. Interest as general partner - last updated June 28, 2021 | https://codes.findlaw.com/ct/title-45a-probate-courts-and-procedure/ct-gen-st-sect-45a-499xxx/
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