§ 23-4-1-34 — Right of partner to contribution from copartners after dissolution

Indiana § 23-4-1-34

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 4: PARTNERSHIPS
• Ch. 1: Uniform Partnership Act

Text

Where the dissolution is caused by the act,
death or bankruptcy of a partner, each partner is liable to his copartners
for his share of any liability created by any partner acting for the
partnership as if the partnership had not been dissolved except in the
case of one (1) of the following:
(a) The dissolution being by act of any partner, the partner acting for
the partnership had knowledge of the dissolution.
(b) The dissolution being by the death or bankruptcy of a partner,
the partner acting for the partnership had knowledge or notice of the
death or bankruptcy.
(c) The liability is for a debt, an obligation, or a liability for which
the partner is not liable as provided in section 15(2) of this chapter.
Formerly: Acts 1949, c.114, s.34. As amended by P.L.230-1995,
SEC.6.