Utah § 48-2e-805 Liability after dissolution of general partner and person dissociated as general partner to limited partnership, other general partners, and persons dissociated as general partner.

Utah Statutes

§ 48-2e-805 — Liability after dissolution of general partner and person dissociated as general partner to limited partnership, other general partners, and persons dissociated as general partner.

Utah·Title 48 Unincorporated Business Entity Act·Ch. 48-2e Utah Uniform Limited Partnership Act·Part 48-2e-8 Dissolution and Winding up

(1)If a general partner having knowledge of the dissolution causes a limited partnership to incur an obligation under Subsection 48-2e-804(1) by an act that is not appropriate for winding up the limited partnership's activities and affairs, the general partner is liable:

(1)(a) to the limited partnership for any damage caused to the limited partnership arising from the obligation; and

(1)(b) 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.

(2)If a person dissociated as a general partner causes a limited partnership to incur an obligation under Subsection 48-2e-804(2), the person is liable:

(2)(a) to the li

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(1) If a general partner having knowledge of the dissolution causes a limited partnership to incur an obligation under Subsection 48-2e-804(1) by an act that is not appropriate for winding up the limited partnership's activities and affairs, the general partner is liable:

(1)(a) to the limited partnership for any damage caused to the limited partnership arising from the obligation; and
(1)(b) 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.
(2) If a person dissociated as a general partner causes a limited partnership to incur an obligation under Subsection 48-2e-804(2), the person is liable:

(2)(a) to the limited partnership for any damage caused to the limited partnership arising from the obligation; and
(2)(b) 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.

Utah § 48-2e-805 (Liability after dissolution of general partner and person dissociated as general partner to limited partnership, other general partners, and persons dissociated as general partner.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.