Wyoming Statutes

§ 17-21-702 — Dissociated partner's power to bind and liability to partnership

Wyoming·Title 17 Corporations, Partnerships and Associations·Ch. 21 UNIFORM PARTNERSHIP ACT·Art. 7 PARTNER'S DISSOCIATION WHEN BUSINESS NOT WOUND UP
(a)For two (2) years after a partner dissociates without resulting in a dissolution and winding up of the partnership business, the partnership, including a surviving partnership under article 9 of this chapter, is bound by an act of the dissociated partner that would have bound the partnership under W.S. 17-21-301 before dissociation only if the other party to the transaction:
(i)Reasonably believes when entering the transaction that the dissociated partner is a partner at that time;
(ii)Does not have notice of the partner's dissociation; and
(iii)Is not deemed to have notice under W.S. 17-21-303(e) or 17-21-704.
(b)A dissociated partner is liable to the partnership for any loss caused to the partnership arising from an obligation incurred by the dissociated partner after dissociatio

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