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Fla. Stat. § 736.1015 – Florida Statutes

Text of Fla. Stat. § 736.1015

Interest as general partner.—

(1) Unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust’s acquisition of the interest if the fiduciary capacity was disclosed in the contract or in a statement previously filed pursuant to a Uniform Partnership Act or Uniform Limited Partnership Act.

(2) A trustee who holds an interest as a general partner is not personally liable for torts committed by the partnership or for obligations arising from ownership or control of the interest unless the trustee is personally at fault.

(3) If the trustee of a revocable trust holds an interest as a general partner, the settlor is personally liable for contracts and other obligations of the partnership as if the settlor were a general partner.

History of Fla. Stat. § 736.1015

Fla. Stat. § 736.1015 became law on July 1, 2007 as part of the Florida Trust Code. It has not been amended or revised since that date.

Cases Citing Fla. Stat. § 736.1015

Currently, no cases cite or reference Fla. Stat. § 736.1015.