The Act allows for formation of limited liability partnerships in Georgia. A partner in a limited liability partnership will not be derivatively liable for the acts or omissions of a partner or the acts or omissions of the limited liability partnership. The Act requires a partnership that desires limited liability status to file an election in every county in which it has an office. Additionally, the limited liability partnership is required to indicate its limited liability status through one of three options enumerated in the Act. The Act also affects foreign limited liability partnerships, domestic limited partnerships, foreign limited partnerships, limited liability companies, and foreign limited liability companies.
Georgia State University Law Review,
CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS Partnerships: Provide for Formation of Domestic Limited Liability Partnerships,
Ga. St. U. L. Rev.
Available at: https://readingroom.law.gsu.edu/gsulr/vol12/iss1/47