42:3-9 - Liability of individual members; executions - New Jersey Statutes

42:3-9.  Liability of individual members;  executions
    The members of any limited partnership association shall not be liable under  any judgment or order obtained against the association, or for any debt or  engagement of the association, except that, if any execution, sequestration or  other process in the nature of execution be issued against the property or  effects of the association, and if there cannot be found sufficient thereof on  which to levy or enforce such process, such execution, sequestration or other  process may be issued against any of the members to the extent of the portions  of their subscriptions respectively, in the capital of the association not then  paid up.

     Amended by L.1953, c. 40, p. 760, s. 6, eff. March 19, 1953.