67-435. Dissociated partner's power to bind and liability to partnership.
148 words·~1 min read·
/ne/chapter-67/67-435A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)For two years after a partner dissociates without resulting in a dissolution and winding up of the partnership business, the partnership, including a surviving partnership under sections 67-446 to 67-453 , is bound by an act of the dissociated partner which would have bound the partnership under section 67-413 before dissociation only if at the time of entering into the transaction the other party:
(a)Reasonably believed that the dissociated partner was then a partner;
(b)Did not have notice of the partner's dissociation; and
(c)Is not deemed to have had knowledge under subsection
(5)of section 67-415 or notice under subsection
(3)of section 67-437 .
(2)A dissociated partner is liable to the partnership for any damage caused to the partnership arising from an obligation incurred by the dissociated partner after dissociation for which the partnership is liable under subsection
(1)of this section.