South Australian Numbered Acts South Australian Numbered Acts16—Amendment of section 12—Liability for wrongs joint and several
(1)
Section 12—after "Every partner" insert:
in a firm other than an incorporated limited partnership
(2)
Section 12—after its present contents as amended by this section (now to
be designated as subsection (1)) insert:
(2) Every general
partner in an incorporated limited partnership is liable jointly with the
other general partners in the partnership and also severally for everything
for which the firm becomes liable under section 10(3) or 11(2) while the
general partner is a general partner in the firm.
(3) Despite
subsection (2), a general partner in an incorporated limited partnership
is only liable for any liability of the incorporated limited partnership
referred to that subsection—
(a) to
the extent the incorporated limited partnership is unable to satisfy the
liability; or
(b) to a
greater extent provided by the partnership agreement.