What relationship of partners in an LLP primarily protects against liability?

In a Limited Liability Partnership (LLP), the primary relationship that protects partners against personal liability is established by state limited liability partnership law. This legal framework is designed to provide certain protections to partners, ensuring that they are not personally liable for the debts and obligations of the partnership or for the actions of other partners, as long as they do not engage in wrongful conduct or negligence themselves.

State LLP laws specifically outline the extent of liability protection and the requirements for forming an LLP, such as registration and compliance with state regulations. This legal structure encourages professionals, such as lawyers and accountants, to collaborate in a partnership while limiting their personal risk.

While a partnership agreement and an operating agreement govern the internal operations and relationships among partners, they do not provide the same level of liability protection as established by state law. Federal partnership regulations are more focused on tax treatments and reporting requirements rather than liability protections. Therefore, the correct answer highlights the foundational legal framework that offers essential protection to partners in an LLP.