Current through the 2024 Regular Session
Section 30-24-804 - POWER 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 partnership's activities and affairs; or(2) Would have bound the partnership under section 30-24-402, 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 limited 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 general partner; and(2) The act: (A) Is appropriate for winding up the partnership's activities and affairs; or(B) Would have bound the partnership under section 30-24-402, 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.[30-24-804, added 2015, ch. 243, sec. 40, p. 865.]Added by 2015 Session Laws, ch. 243,sec. 40, eff. 7/1/2015.