Nevada Revised Statutes Section 88.608 - Business Associations - Securities - Commodities

Liability of partner for debt or liability of partnership.

1. Unless otherwise provided by the articles of organization or partnership agreement, a partner of a registered limited-liability limited partnership is not personally liable for a debt or liability of the registered limited-liability limited partnership unless the trier of fact determines that adherence to the fiction of a separate entity would sanction fraud or promote a manifest injustice.

2. For purposes of this section, the failure of a registered limited-liability limited partnership to observe the formalities or requirements relating to the management of the registered limited-liability limited partnership, in and of itself, is not sufficient to establish grounds for imposing personal liability on a partner for a debt or liability of the registered limited-liability limited partnership.

NRS 88.6085

Last modified: February 26, 2006