Limited Liability Partnerships Act 2012 · Updated to 1 Aug 2022 · Part IV · Management of a Limited Liability Partnership
21. Limited liability of partners
Feedback & supportAny obligation of a limited liability partnership whether arising in contract, tort or otherwise, is solely the obligation of the limited liability partnership.
limited liability partnership
“limited liability partnership” means a limited liability partnership registered under section 11 or a foreign limited liability partnership registered under section 45;
A partner is not personally liable, directly or indirectly, by way of indemnification, contribution, assessment or otherwise, for an obligation referred to in subsection (1) solely by reason of being a partner of the limited liability partnership.
partner
“partner”, in relation to a limited liability partnership, means any person who has been admitted as a partner in the limited liability partnership in accordance with the limited liability partnership agreement, and includes a salaried partner whether or not he is an employee of the limited liability partnership;
Subsections (1) and (2) shall not affect the personal liability of a partner in tort for his own wrongful act or omission, but a partner shall not be personally liable for the wrongful act or omission of any other partner of the limited liability partnership.
Where a partner of a limited liability partnership is liable to any person, other than another partner of the limited liability partnership, as a result of that partner’s wrongful act or omission in the course of the business of the limited liability partnership or with its authority, the limited liability partnership is liable to the same extent as the partner.
The liabilities of the limited liability partnership shall be borne out of the property of the limited liability partnership.
property
“property”, in relation to a limited liability partnership, includes land, money, goods, chose in action, goodwill, and every valuable thing, whether corporeal or incorporeal, movable or immovable, and whether situated in Malaysia or elsewhere and also includes obligations, servitudes, and every description of estate, interest and profit, present or future, vested or contingent, arising out of or incident to the property;