Idaho Code § 30-23-804

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.

Idaho Code § 30-23-804

[30-23-804, added 2015, ch. 243, sec. 30, p. 831.]
Added by 2015 Session Laws, ch. 243,sec. 30, eff. 7/1/2015.