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Section 767 Companies and Allied Matters Act (CAMA) 2020

Section 767 CAMA 2020

Section 767 Companies and Allied Matters Act is about Extent of liability of partner. It is under Chapter 4 (Extent and limitation of liability of limited liability partnership and partners) of the Act.

(1) A partner is not personally liable, directly or indirectly for an obligation referred to in section 766 (3) solely by reason of being a partner of the limited liability partnership.

(2) The provisions of section 766 (3) and subsection (1) of this section shall not affect the personal liability of a partner for his own wrongful act or omission, and a partner shall not be personally liable for the wrongful act or omission of any other partner of the limited liability partnership.

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