Liability of incoming partner

Ind. Code § 23-4-1-17
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
Sec. 17. A person admitted as a partner into an existing partnership is liable for all the obligations of the partnership arising before his admission as though he had been a partner when such obligations were incurred, except that this liability shall be satisfied only out of partnership property. Formerly: Acts 1949, c.114, s.17.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/23Fetched: 10/17/2026

Starting a business in Indiana? Indiana LLC guide: costs and requirements