Idaho § 30-23-703 LIABILITY OF PERSON DISSOCIATED AS PARTNER TO OTHER PERSONS

Idaho Statutes

§ 30-23-703 — LIABILITY OF PERSON DISSOCIATED AS PARTNER TO OTHER PERSONS

Idaho § 30-23-703

Title 30CORPORATIONS

Part 7PARTNER’S DISSOCIATION WHEN BUSINESS NOT WOUND UP

Ch. 23GENERAL PARTNERSHIPS

This text of Idaho § 30-23-703 (LIABILITY OF PERSON DISSOCIATED AS PARTNER TO OTHER PERSONS) is published on Counsel Stack Legal Research, covering Idaho primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Idaho Code § 30-23-703 (2026).

Text

(a)Except as otherwise provided in subsection (b) of this section, a person dissociated as a partner is not liable for a partnership obligation incurred after dissociation.

(b)A person that is dissociated as a partner is liable on a transaction entered into by the partnership after the dissociation only if:

(1)The partner would be liable on the transaction; and

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

(A)Less than two (2) years has passed since the dissociation; and

(B)The other party does not have knowledge or notice of the dissociation and reasonably believes that the person is a partner.

(c)By agreement with a creditor of a partnership and the partnership, a person dissociated as a partner may be released from liability for a debt, obligation, or other liabilit

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(a) Except as otherwise provided in subsection (b) of this section, a person dissociated as a partner is not liable for a partnership obligation incurred after dissociation.
(b) A person that is dissociated as a partner is liable on a transaction entered into by the partnership after the dissociation only if:
(1) The partner would be liable on the transaction; and
(2) At the time the other party enters into the transaction:
(A) Less than two (2) years has passed since the dissociation; and
(B) The other party does not have knowledge or notice of the dissociation and reasonably believes that the person is a partner.
(c) By agreement with a creditor of a partnership and the partnership, a person dissociated as a partner may be released from liability for a debt, obligation, or other liability of the partnership.
(d) A person dissociated as a partner is released from liability for a debt, obligation, or other liability of the partnership if the partnership’s creditor, with knowledge or notice of the person’s dissociation but without the person’s consent, agrees to a material alteration in the nature or time of payment of the debt, obligation or other liability.