Section 4-47-804 - Power of general partner and person dissociated as general partner to bind partnership after dissolution

(a) A limited partnership is bound by a general partner's act after dissolution which: (1) is appropriate for winding up the limited partnership's activities; or(2) would have bound the limited partnership under § 4-47-402 before dissolution, if, at the time the other party enters into the transaction, the other party does not have notice of the dissolution.(b) A person dissociated as a general partner binds a limited partnership through an act occurring after dissolution if: (1) at the time the other party enters into the transaction:(A) less than two years has passed since the dissociation; and(B) the other party does not have notice of the dissociation and reasonably believes that the person is a general partner; and(2) the act: (A) is appropriate for winding up the limited partnership's activities; or(B) would have bound the limited partnership under § 4-47-402 before dissolution and at the time the other party enters into the transaction the other party does not have notice of the dissolution.Acts 2007, No. 15, § 1.