Tennessee § 61-3-805 Liability after dissolution of general partner and person dissociated as general partner

Tennessee Statutes

§ 61-3-805 — Liability after dissolution of general partner and person dissociated as general partner

Tennessee § 61-3-805

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This text of Tennessee § 61-3-805 (Liability after dissolution of general partner and person dissociated as general partner) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 61-3-805 (2026).

Text

(a)If a general partner having knowledge of the dissolution causes a limited partnership to incur an obligation under § 61-3-804(a) by an act that is not appropriate for winding up the limited partnership's activities and affairs, the general partner is liable:

(1)To the limited partnership for any damage caused to the limited partnership arising from the obligation; and (2) If another general partner or a person dissociated as a general partner is liable for the obligation, to that other general partner or person for any damage caused to that other general partner or person arising from the liability.

(b)If a person dissociated as a general partner causes a limited partnership to incur an obligation under § 61-3-804(b) , the person is liable:

(1)To the limited partnership for any dama

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(a) If a general partner having knowledge of the dissolution causes a limited partnership to incur an obligation under § 61-3-804(a) by an act that is not appropriate for winding up the limited partnership's activities and affairs, the general partner is liable: (1) To the limited partnership for any damage caused to the limited partnership arising from the obligation; and (2) If another general partner or a person dissociated as a general partner is liable for the obligation, to that other general partner or person for any damage caused to that other general partner or person arising from the liability. (b) If a person dissociated as a general partner causes a limited partnership to incur an obligation under § 61-3-804(b) , the person is liable: (1) To the limited partnership for any damage caused to the limited partnership arising from the obligation; and (2) If a general partner or another person dissociated as a general partner is liable for the obligation, to the general partner or other person for any damage caused to the general partner or other person arising from the obligation.