Idaho § 30-24-804 POWER TO BIND PARTNERSHIP AFTER DISSOLUTION

Idaho Statutes

§ 30-24-804 — POWER TO BIND PARTNERSHIP AFTER DISSOLUTION

Idaho·Title 30 CORPORATIONS·Part 8 DISSOLUTION AND WINDING UP·Ch. 24 LIMITED PARTNERSHIPS

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

(1)Is appropriate for winding up the partnership’s activities and affairs; or

(2)Would have bound the partnership under section 30-24-402, Idaho Code, before dissolution, if, at the time the other party enters into the transaction, the other party does not know or 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 (2) years has passed since the dissociation; and

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

(2)The act:

(A)Is appropriat

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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 partnership’s activities and affairs; or
(2) Would have bound the partnership under section 30-24-402, Idaho Code, before dissolution, if, at the time the other party enters into the transaction, the other party does not know or 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 (2) years has passed since the dissociation; and
(B) The other party does not know or 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 partnership’s activities and affairs; or
(B) Would have bound the partnership under section 30-24-402, Idaho Code, before dissolution and at the time the other party enters into the transaction the other party does not know or have notice of the dissolution.

Idaho § 30-24-804 (POWER TO BIND PARTNERSHIP AFTER DISSOLUTION) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.