Connecticut § 34-363 Dissociated partner's power to bind and liability to partnership.

Connecticut Statutes

§ 34-363 — Dissociated partner's power to bind and liability to partnership.

Connecticut·Title 34 Limited Partnerships, Partnerships, Professional Associations, Limited Liability Companies and Statutory Trusts·Ch. 614 Uniform Partnership Act. Limited Liability Partnerships

(a)For two years after a partner dissociates without resulting in a dissolution and winding up of the partnership business, the partnership, including a surviving partnership under sections 34-384 and 34-388 to 34-390, inclusive, is bound by an act of the dissociated partner which would have bound the partnership under section 34-322 before dissociation only if at the time of entering into the transaction the other party:

(1)Reasonably believed that the dissociated partner was then a partner;

(2)did not have notice of the partner's dissociation; and (3) is not deemed to have had knowledge under subsection (e) of section 34-324 or notice under subsection (c) of section 34-365.

(b)A dissociated partner is liable to the partnership for any damage caused to the partnership arising from an

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(a) For two years after a partner dissociates without resulting in a dissolution and winding up of the partnership business, the partnership, including a surviving partnership under sections 34-384 and 34-388 to 34-390, inclusive, is bound by an act of the dissociated partner which would have bound the partnership under section 34-322 before dissociation only if at the time of entering into the transaction the other party: (1) Reasonably believed that the dissociated partner was then a partner; (2) did not have notice of the partner's dissociation; and (3) is not deemed to have had knowledge under subsection (e) of section 34-324 or notice under subsection (c) of section 34-365. (b) A dissociated partner is liable to the partnership for any damage caused to the partnership arising from an obligation incurred by the dissociated partner after dissociation for which the partnership is liable under subsection (a) of this section.

Connecticut § 34-363 (Dissociated partner's power to bind and liability to partnership.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

(P.A. 95-341, S. 35, 58; P.A. 11-241, S. 55.) History: P.A. 95-341 effective July 1, 1997; P.A. 11-241 amended Subsec. (a) to replace reference to “sections 34-384 to 34-391, inclusive” with reference to “sections 34-384 and 34-388 to 34-390, inclusive”, effective January 1, 2014.