§ 7-12-1-103

(a) A person knows a fact if the person: (1) Has actual knowledge of it; or (2) Is deemed to know it under subsection (d)(1) of this section or law other than this chapter. (b) A person has notice of a fact if the person: (1) Has reason to know the fact from all the facts known to the person at the time in question; or (2) Is deemed to have notice of the fact under subsection (d)(2) of this section. (c) Subject to § 7-12.1-117(f), a person notifies another person of a fact by taking steps reasonably required to inform the other person in ordinary course, whether or not those steps cause the other person to know the fact. (d) A person not a partner is deemed: (1) To know of a limitation on authority to transfer real property as provided in § 7-12.1-303(g); and (2) To have notice of: (i) A person’s dissociation as a partner ninety (90) days after a statement of dissociation under § 7-12.1-704 becomes effective; and (ii) A partnership’s: (A) Dissolution ninety (90) days after a statement of dissolution under § 7-12.1-802 becomes effective; (B) Termination ninety (90) days after a statement of termination under § 7-12.1-802 becomes effective; and (C)

ninety (90) days after a statement of dissolution under § 7-12.1-802 becomes effective; (B) Termination ninety (90) days after a statement of termination under § 7-12.1-802 becomes effective; and (C) Participation in a merger, interest exchange, conversion, or domestication, ninety (90) days after articles of merger, interest exchange, conversion, or domestication under Article 11 of this chapter become effective. (e) A partner’s knowledge or notice of a fact relating to the partnership is effective immediately as knowledge of or notice to the partnership, except in the case of a fraud on the partnership committed by or with the consent of that partner. History of Section.P.L. 2022, ch. 123, § 2, effective January 1, 2023; P.L. 2022, ch. 124, § 2, effective January 1, 2023.