Pennsylvania § 8472 Power to bind and liability of person dissociated as partner

Pennsylvania Statutes

§ 8472 — Power to bind and liability of person dissociated as partner

Pennsylvania § 8472

JurisdictionPennsylvania

Title 15CORPORATIONS AND UNINCORPORATED ASSOCIATIONS

PartPART III

Ch. 84GENERAL PARTNERSHIPS

Subch.DISSOCIATION AS PARTNER

This text of Pennsylvania § 8472 (Power to bind and liability of person dissociated as partner) is published on Counsel Stack Legal Research, covering Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

15 Pa. Cons. Stat. § 8472 (2026).

Text

(a)When partnership bound.--After a person is dissociated as a partner without the dissociation resulting in a dissolution and winding up of the partnership business and before the partnership is merged or divided out of existence, converted or domesticated under Chapter 3 (relating to entity transactions), or dissolved, the partnership is bound by an act of the person only if:

(1)the act would have bound the partnership under section 8431 (relating to partner agent of partnership) before dissociation; and

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

(i)less than two years have passed since the dissociation; and

(ii)the other party does not know or have notice of the dissociation and reasonably believes that the person is a partner.

(b)Liability of person dissocia

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(a) When partnership bound.--After a person is dissociated as a partner without the dissociation resulting in a dissolution and winding up of the partnership business and before the partnership is merged or divided out of existence, converted or domesticated under Chapter 3 (relating to entity transactions), or dissolved, the partnership is bound by an act of the person only if:

(1) the act would have bound the partnership under section 8431 (relating to partner agent of partnership) before dissociation; and

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

(i) less than two years have passed since the dissociation; and

(ii) the other party does not know or have notice of the dissociation and reasonably believes that the person is a partner.

(b) Liability of person dissociated as partner.--If a partnership is bound under subsection (a), the person dissociated as a partner which caused the partnership to be bound is liable:

(1) to the partnership for any damage caused to the partnership arising from the obligation incurred under subsection (a); 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 liability.