                                 CODE OF VIRGINIA

ACTIONS BY AND AGAINST PARTNERSHIP AND PARTNERS (§ 50-73.97)

A. A partnership may sue and be sued in the name of the partnership.

B. An action may be brought against the partnership and, except as provided in
&#xA7; 50-73.96, against any or all of the partners in the same action or in
separate actions.

C. A judgment against a partnership is not by itself a judgment against a
partner. A judgment against a partnership may not be satisfied from a
partner&#8217;s assets unless there is also a judgment against the partner.

D. A judgment creditor of a partner may not levy execution against the assets of
the partner to satisfy a judgment based on a claim against the partnership
unless:

   1. The claim is for a debt, obligation or liability for which the partner is
   liable as provided in &#xA7; 50-73.96 and either:
   				a. A judgment based on the same claim has been obtained against the
   partnership and a writ of execution on the judgment has been returned
   unsatisfied in whole or in part;
   				b. The partnership is a debtor in bankruptcy;
   				c. The partner has agreed that the creditor need not exhaust partnership
   assets; or
   				d. A court grants permission to the judgment creditor to levy execution
   against the assets of a partner based on a finding that partnership assets
   subject to execution are clearly insufficient to satisfy the judgment, that
   exhaustion of partnership assets is excessively burdensome, or that the grant
   of permission is an appropriate exercise of the court&#8217;s equitable
   powers; or

   2. Liability is imposed on the partner by law or contract independent of the
   existence of the partnership.

E. This section applies to any partnership liability or obligation resulting
from a representation by a partner or purported partner under &#xA7; 50-73.98.

HISTORY: 1996, c. 292.