§ 15908.04
168 words·~1 min read·
/ca/corporations-code/15908-04A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)A limited partnership is bound by a general partner’s act after dissolution which:
(1)is appropriate for winding up the limited partnership’s activities; or
(2)would have bound the limited partnership under Section 15904.02 before dissolution, if, at the time the other party enters into the transaction, the other party does not 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 years have passed since the dissociation; and
(B)the other party does not 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 limited partnership’s activities; or
(B)would have bound the limited partnership under Section 15904.02 before dissolution and at the time the other party enters into the transaction the other party does not have notice of the dissolution.