2006 Minnesota Statutes

321.0405 ACTIONS BY AND AGAINST PARTNERSHIP AND PARTNERS.
(a) To the extent not inconsistent with section 321.0404, a general partner may be joined in
an action against the limited partnership or named in a separate action.
(b) A judgment against a limited partnership is not by itself a judgment against a general
partner. A judgment against a limited partnership may not be satisfied from a general partner's
assets unless there is also a judgment against the general partner.
(c) A judgment creditor of a general partner may not levy execution against the assets of the
general partner to satisfy a judgment based on a claim against the limited partnership, unless the
partner is personally liable for the claim under section 321.0404 and:
(1) a judgment based on the same claim has been obtained against the limited partnership
and a writ of execution on the judgment has been returned unsatisfied in whole or in part;
(2) the limited partnership is a debtor in bankruptcy;
(3) the general partner has agreed that the creditor need not exhaust limited partnership assets;
(4) a court grants permission to the judgment creditor to levy execution against the assets
of a general partner based on a finding that limited partnership assets subject to execution are
clearly insufficient to satisfy the judgment, that exhaustion of limited partnership assets is
excessively burdensome, or that the grant of permission is an appropriate exercise of the court's
equitable powers; or
(5) liability is imposed on the general partner by law or contract independent of the existence
of the limited partnership.
History: 2004 c 199 art 4 s 38