No liability as limited partner for limited partnership obligations.
R.I. Gen. Laws § 7-13.1-303
in effect7-13.1-303. No liability as limited partner for limited partnership obligations.
(a) A debt, obligation, or other liability of a limited partnership is not the debt, obligation,
or other liability of a limited partner. A limited partner is not personally liable,
directly or indirectly, by way of contribution or otherwise, for a debt, obligation,
or other liability of the partnership solely by reason of being or acting as a limited
partner, even if the limited partner participates in the management and control of
the limited partnership. This subsection applies regardless of the dissolution of
the partnership.
(b) The failure of a limited partnership to observe formalities relating to the exercise
of its powers or management of its activities and affairs is not a ground for imposing
liability on a limited partner for a debt, obligation, or other liability of the partnership.
P.L. 2022, ch. 121, § 2, effective January 1, 2023; P.L. 2022, ch. 122, § 2, effective
January 1, 2023.
Source: State of Rhode Island General Assembly (rilegislature.gov)URL: https://webserver.rilegislature.gov/Statutes/TITLE7/7-13.1/7-3/7-13.1-303.htmFetched: 10/20/2026