Idaho § 30-23-805 LIABILITY AFTER DISSOLUTION OF PARTNER AND PERSON DISSOCIATED AS GENERAL PARTNER

Idaho Statutes

§ 30-23-805 — LIABILITY AFTER DISSOLUTION OF PARTNER AND PERSON DISSOCIATED AS GENERAL PARTNER

Idaho·Title 30 CORPORATIONS·Part 8 DISSOLUTION AND WINDING UP·Ch. 23 GENERAL PARTNERSHIPS

(a)If a partner having knowledge of the dissolution causes a partnership to incur an obligation under section 30-23-804 (a), Idaho Code, by an act that is not appropriate for winding up the partnership business, the partner is liable:

(1)To the partnership for any damage caused to the partnership arising from the obligation; and

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

(b)Except as otherwise provided in this subsection (c) of this section, if a person dissociated as a partner causes a partnership to incur an obligation under section 30-23-804 (b), Idaho Code, the person is liable:

(1)To the partnership for any damage caused to

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(a) If a partner having knowledge of the dissolution causes a partnership to incur an obligation under section 30-23-804 (a), Idaho Code, by an act that is not appropriate for winding up the partnership business, the partner is liable:
(1) To the partnership for any damage caused to the partnership arising from the obligation; and
(2) If another partner or person dissociated as a partner is liable for the obligation, to that other partner or person for any damage caused to that other partner or person arising from the liability.
(b) Except as otherwise provided in this subsection (c) of this section, if a person dissociated as a partner causes a partnership to incur an obligation under section 30-23-804 (b), Idaho Code, the person is liable:
(1) To the partnership for any damage caused to the partnership arising from the obligation; and
(2) If a partner or another person dissociated as a partner is liable for the obligation, to the partner or other person for any damage caused to the partner or other person arising from the obligation.
(c) A person dissociated as a general partner is not liable under this subsection if:
(1) Section 30-23-802 (c), Idaho Code, permits the person to participate in winding up; and
(2) The act that causes the partnership to be bound under section 30-23-804 (b), Idaho Code, is appropriate for winding up the partnership’s business.

Idaho § 30-23-805 (LIABILITY AFTER DISSOLUTION OF PARTNER AND PERSON DISSOCIATED AS GENERAL PARTNER) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.