The 2023 Florida Statutes (including Special Session C)

Title XXXVI
BUSINESS ORGANIZATIONS

Chapter 620
PARTNERSHIP LAWS

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F.S. 620.1404

620.1404 General partner’s liability.—

(1) Except as otherwise provided in subsections (2) and (3), all general partners are liable jointly and severally for all obligations of the limited partnership unless otherwise agreed by the claimant or provided by law.

(2) A person that becomes a general partner of an existing limited partnership is not personally liable for an obligation of a limited partnership incurred before the person became a general partner.

(3) An obligation of a limited partnership incurred while the limited partnership is a limited liability limited partnership, whether arising in contract, tort, or otherwise, is solely the obligation of the limited partnership. A general partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for such an obligation solely by reason of being or acting as a general partner. This subsection applies despite anything inconsistent in the partnership agreement that existed immediately before the consent required to become a limited liability limited partnership under s. 620.1406.

History.—s. 17, ch. 2005-267.

F.S. 620.1404 on Google Scholar

F.S. 620.1404 on Casetext

Amendments to 620.1404

Arrestable Offenses / Crimes under Fla. Stat. 620.1404

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 620.1404.

Annotations, Discussions, Cases:

Cases from cite.case.law:

IN RE BERNARD L. MADOFF INVESTMENT SECURITIES LLC, H. L. LLC, v. J., 557 B.R. 89 (Bankr. S.D.N.Y. 2016)

. . . . § 620.1404(1) (2016). . . . Stat. § 620.1404(1) provides that with exceptions that are not relevant that "all general partners are . . . The enactment of § 620.1404(1) did not modify existing Florida law. . . .

LEBLANC, v. UNIFUND CCR PARTNERS, G. P. ZB, 552 F. Supp. 2d 1327 (M.D. Fla. 2008)

. . . In response, Plaintiff cites to Florida Statutes § 620.1404 and argues that Florida law imputes liability . . .