§ 9A-703
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/md/corporations-and-associations/9a-703·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§9A–703.
(a)A partner’s dissociation does not of itself discharge the partner’s liability for a partnership obligation incurred before dissociation. A dissociated partner is not liable for a partnership obligation incurred after dissociation, except as otherwise provided in subsection
(b)of this section.
(b)A partner who dissociates without resulting in a dissolution and winding up of the partnership business is liable as a partner to the other party in a transaction entered into by the partnership, or a surviving partnership under Subtitle 9 of this title, within 2 years after the partner’s dissociation, only if the obligation is one for which the partner is liable under § 9A-306 of this title and at the time of entering into the transaction the other party:
(1)Reasonably believed that the dissociated partner was then a partner;
(2)Did not have notice of the partner’s dissociation; and
(3)Is not deemed to have had knowledge under § 9A-303(e) of this title or notice under § 9A-704(c) of this subtitle.
(c)By agreement with the partnership creditor and the partners continuing the business, a dissociated partner may be released from liability for a partnership obligation.
(d)A dissociated partner is released from liability for a partnership obligation if a partnership creditor, with notice of the partner’s dissociation but without the partner’s consent, agrees to a material alteration in the nature or time of payment of a partnership obligation.