Montana § 35-12-1211 Power Of General Partner And Person Dissociated As General Partner To Bind Partnership After Dissolution

Montana Statutes

§ 35-12-1211 — Power Of General Partner And Person Dissociated As General Partner To Bind Partnership After Dissolution

Montana·Title 35 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS·Ch. 12 LIMITED PARTNERSHIPS·Part 12 Dissolution

35-12-1211 . Power of general partner and person dissociated as general partner to bind partnership after dissolution.

(1)A limited partnership is bound by a general partner's act after dissolution that:

(a)is appropriate for winding up the limited partnership's activities; or

(b)would have bound the limited partnership under 35-12-806 before dissolution if, at the time the other party enters into the transaction, the other party does not have notice of the dissolution.

(2)A person dissociated as a general partner binds a limited partnership through an act occurring after dissolution if:

(a)at the time the other party enters into the transaction:

(i)less than 2 years has passed since the dissociation; and

(ii)the other party does not have notice of the dissociation and reasonably be

Free access — add to your briefcase to read the full text and ask questions with AI

35-12-1211 . Power of general partner and person dissociated as general partner to bind partnership after dissolution. (1) A limited partnership is bound by a general partner's act after dissolution that:
(a) is appropriate for winding up the limited partnership's activities; or
(b) would have bound the limited partnership under 35-12-806 before dissolution if, at the time the other party enters into the transaction, the other party does not have notice of the dissolution.
(2) A person dissociated as a general partner binds a limited partnership through an act occurring after dissolution if:
(a) at the time the other party enters into the transaction:
(i) less than 2 years has passed since the dissociation; and
(ii) the other party does not have notice of the dissociation and reasonably believes that the person is a general partner; and
(b) the act:
(i) is appropriate for winding up the limited partnership's activities; or
(ii) would have bound the limited partnership under 35-12-806 before dissolution and at the time the other party enters into the transaction the other party does not have notice of the dissolution.

Montana § 35-12-1211 (Power Of General Partner And Person Dissociated As General Partner To Bind Partnership After Dissolution) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.