Section 10A-8A-8.04 - Power to bind partnership after dissolution(a) After dissolution, a partnership is bound by the act of a partner or by the act of a dissociated partner acting as a partner under Section 10A-8A-8.03(a) which:(1) is appropriate for winding up the partnership's business or not for profit activity; or(2) would have bound the partnership under Section 10A-8A-3.01 before dissolution, if, at the time the other party enters into the transaction, the other party does not have notice of the dissolution.(b) Subject to subsection (a), a person dissociated as a partner binds a partnership through an act occurring after dissolution only if: (1) at the time the other party enters into the transaction the other party does not have notice of the dissociation and reasonably believes that the person is a partner; and(2) the act: (A) is appropriate for winding up the partnership's business or not for profit activity; or(B) would have bound the partnership under Section 10A-8A-3.01 before dissolution and at the time the other party enters into the transaction the other party does not have notice of the dissolution.Ala. Code § 10A-8A-8.04 (1975)
Added by Act 2018-125,§ 7, eff. 1/1/2019.