Minnesota § 323A.0702 DISSOCIATED PARTNER'S POWER TO BIND AND LIABILITY TO PARTNERSHIP

Minnesota Statutes

§ 323A.0702 — DISSOCIATED PARTNER'S POWER TO BIND AND LIABILITY TO PARTNERSHIP

Minnesota § 323A.0702

PartBUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS

Ch. 323AUNIFORM PARTNERSHIP ACT OF 1994

This text of Minnesota § 323A.0702 (DISSOCIATED PARTNER'S POWER TO BIND AND LIABILITY TO PARTNERSHIP) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 323A.0702 (2026).

Text

(a)For two years after a partner dissociates without resulting in a dissolution and winding up of the partnership business, the partnership, including a surviving partnership under sections323A.0901to323A.0914, is bound by an act of the dissociated partner which would have bound the partnership under section323A.0301before dissociation only if at the time of entering into the transaction the other party:

(1)reasonably believed that the dissociated partner was then a partner;

(2)did not have notice of the partner's dissociation; and

(3)is not deemed to have had knowledge under section 323A.0303(e) or notice under section 323A.0704(c).

(b)A dissociated partner is liable to the partnership for any damage caused to the partnership arising from an obligation incurred by the dissociated par

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(a) For two years after a partner dissociates without resulting in a dissolution and winding up of the partnership business, the partnership, including a surviving partnership under sections323A.0901to323A.0914, is bound by an act of the dissociated partner which would have bound the partnership under section323A.0301before dissociation only if at the time of entering into the transaction the other party:
(1) reasonably believed that the dissociated partner was then a partner;
(2) did not have notice of the partner's dissociation; and
(3) is not deemed to have had knowledge under section 323A.0303(e) or notice under section 323A.0704(c).
(b) A dissociated partner is liable to the partnership for any damage caused to the partnership arising from an obligation incurred by the dissociated partner after dissociation for which the partnership is liable under subsection (a).