District of Columbia § 29-706.06 Power to bind and liability to limited partnership before dissolution of partnership of person dissociated as general partner.

District of Columbia Statutes

§ 29-706.06 — Power to bind and liability to limited partnership before dissolution of partnership of person dissociated as general partner.

District of Columbia § 29-706.06

Title 29Business Organizations. [Enacted title]

Ch. 7Limited Partnerships.

Subch. VIDissociation.

This text of District of Columbia § 29-706.06 (Power to bind and liability to limited partnership before dissolution of partnership of person dissociated as general partner.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 29-706.06 (2026).

Text

(a)After a person is dissociated as a general partner and before the limited partnership is dissolved, merged out of existence, converted, or domesticated under subchapter X of this chapter or Chapter 2 of this title , or otherwise ceases to exist in the form of a limited partnership as a result of a transaction under Chapter 2 of this title , the limited partnership shall be bound by an act of the person only if:

(1)The act would have bound the limited partnership under § 29-704.02 before the dissociation; and

(2)At the time the other party enters into the transaction:

(A)Less than 2 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.

(b)If a limited pa

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(a) After a person is dissociated as a general partner and before the limited partnership is dissolved, merged out of existence, converted, or domesticated under subchapter X of this chapter or Chapter 2 of this title , or otherwise ceases to exist in the form of a limited partnership as a result of a transaction under Chapter 2 of this title , the limited partnership shall be bound by an act of the person only if:

(1) The act would have bound the limited partnership under § 29-704.02 before the dissociation; and

(2) At the time the other party enters into the transaction:

(A) Less than 2 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.

(b) If a limited partnership is bound under subsection (a) of this section, the person dissociated as a general partner which caused the limited partnership to be bound shall be liable:

(1) To the limited partnership for any damage caused to the limited partnership arising from the obligation incurred under subsection (a) of this section; and

(2) If a general partner or another person dissociated as a general partner is liable for the obligation, to the general partner or other person for any damage caused to the general partner or other person arising from the liability.