35-12-1212.
205 words·~1 min read·
/mt/title-35/chapter-12/part-12/35-12-1212·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
35-12-1212 . Liability after dissolution of general partner and person dissociated as general partner to limited partnership, other general partners, and person dissociated as general partner.
(1)If a general partner having knowledge of the dissolution causes a limited partnership to incur an obligation under 35-12-1211
(1)by an act that is not appropriate for winding up the partnership's activities, the general partner is liable:
(a)to the limited partnership for any damage caused to the limited partnership arising from the obligation; and
(b)if another general partner or a person dissociated as a general partner is liable for the obligation, to that other general partner or person for any damage caused to that other general partner or person arising from the liability.
(2)If a person dissociated as a general partner causes a limited partnership to incur an obligation under 35-12-1211 (2), the person is liable:
(a)to the limited partnership for any damage caused to the limited partnership arising from the obligation; and
(b)if a general partner or another person dissociated as a general partner is liable for the obligation, to the general partner or other person for any damage caused to the general partner or other person arising from the liability.