Amendment status not verified — confirm the current text below against the official source.
Lzabzlzty of fzrms.-( l) Where any firm IS liable to pay any tax, fee or other amount under this Act, the firm and each of the pa1 t- ners of the firm shall be jomtly and severally hable for such payment. (2) Where a partner of a firm hablc to pay any tax, fcc or other amount under th1s Act retires, he shall, notwithstandmg any contract to the contrary, be liable to pay the tax, fee or other amount remaining . unpaid at the tunc of h1s rettrement and any tax, fee or other amount due up to the date of retirement, though unassessed.