Subsection (b) provides that each partner "is chargeable" with a share of the losses, rather than the UPA formulation that each partner shall "contribute" to losses. Losses are charged to each partner's account as provided in subsection (a)(2). It is intended to make clear that a partner is not obligated to contribute to partnership losses before his withdrawal or the liquidation of the partnership, unless the partners agree otherwise. In effect, unless related to an obligation for which the partner is not personally liable under Section 306(c), a partner's negative account represents a debt to the partnership unless the partners agree to the contrary. Similarly, each partner's share of the profits is credited to his account under subsection (a)(1). Absent an agreement to the contrary, however, a partner does not have a right to receive a current distribution of the profits credited to his account, the interim distribution of profits being a matter arising in the ordinary course of business to be decided by majority vote of the partners.

However, where a liability to contribute at dissolution and winding up relates to a partnership obligation governed by the limited liability rule of Section 306(c), a partner is not obligated to contribute additional assets even at dissolution and winding up. See Section 807(b). In such a case, although a partner is not personally liable for the partnership obligation, that partner's interest in the partnership remains at risk. See also Comment to Section 401(c) relating to indemnification.

In the case of an operating limited liability partnership, the Section 306 liability shield may be partially eroded where the limited liability partnership incurs both shielded and unshielded liabilities. Where the limited liability partnership uses its assets to pay shielded liabilities before paying unshielded liabilities, each partner's obligation to contribute to the limited liability partnership for that partner's share of the unpaid and unshielded obligations at dissolution and winding up remains intact. The same issue is less likely to occur in the context of the termination of a limited liability partnership since a partner's contribution obligation is based only on that partner's share of unshielded obligations and the partnership will ordinarily use the contributed assets to pay unshielded claims first as they were the basis of the contribution obligations. See Comments to Section 807(b).