N.J.S.A. 42:3-5

Contracting debts

42:3-5. Contracting debts No debt shall be contracted, or liability incurred for a limited partnership association, except by one or more of its managers, and no liability for an amount exceeding five hundred dollars, except against the person incurring it, shall bind the association, unless reduced to writing and signed by at least two managers.

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This is the verbatim text of N.J.S.A. 42:3-5, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.

N.J.S.A. 42:3-5 — Contracting debts | Kyzer