Current through the 2024 Regular Session
Section 30-23-804 - POWER TO BIND PARTNERSHIP AFTER DISSOLUTION(a) A partnership is bound by a partner's act after dissolution which: (1) Is appropriate for winding up the partnership business; or(2) Would have bound the partnership under section 30-23-301, Idaho Code, before dissolution, if, at the time the other party enters into the transaction, the other party does not know or have notice of the dissolution.(b) A person dissociated as a general partner binds a partnership through an act occurring after dissolution if:(1) At the time the other party enters into the transaction: (A) Less than two (2) years has passed since the dissociation; and(B) The other party does not know or 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(B) Would have bound the partnership under section 30-23-301, Idaho Code, before dissolution and at the time the other party enters into the transaction the other party does not know or have notice of the dissolution.[30-23-804, added 2015, ch. 243, sec. 30, p. 831.]Added by 2015 Session Laws, ch. 243,sec. 30, eff. 7/1/2015.