Arkansas § 4-47-804 Power of general partner and person dissociated as general partner to bind partnership after dissolution

Arkansas Statutes

§ 4-47-804 — Power of general partner and person dissociated as general partner to bind partnership after dissolution

Arkansas § 4-47-804

Title4

This text of Arkansas § 4-47-804 (Power of general partner and person dissociated as general partner to bind partnership after dissolution) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 4-47-804 (2026).

Text

(a)A limited partnership is bound by a general partner's act after dissolution which:

(1)is appropriate for winding up the limited partnership's activities; or (2) would have bound the limited partnership under § 4-47-402 before dissolution, if, at the time the other party enters into the transaction, the other party does not have notice of the dissolution.

(b)A person dissociated as a general partner binds a limited partnership through an act occurring after dissolution if:

(1)at the time the other party enters into the transaction:

(A)less than two years has passed since the dissociation; and (B) the other party does not have notice of the dissociation and reasonably believes that the person is a general partner; and (2) the act:

(A)is appropriate for winding up the limited partner

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(a) A limited partnership is bound by a general partner's act after dissolution which: (1) is appropriate for winding up the limited partnership's activities; or (2) would have bound the limited partnership under § 4-47-402 before dissolution, if, at the time the other party enters into the transaction, the other party does not have notice of the dissolution. (b) A person dissociated as a general partner binds a limited partnership through an act occurring after dissolution if: (1) at the time the other party enters into the transaction: (A) less than two years has passed since the dissociation; and (B) the other party does not have notice of the dissociation and reasonably believes that the person is a general partner; and (2) the act: (A) is appropriate for winding up the limited partnership's activities; or (B) would have bound the limited partnership under § 4-47-402 before dissolution and at the time the other party enters into the transaction the other party does not have notice of the dissolution.