(a) A limited partnership shall be bound by a general partner’s act after dissolution which:
(1) Is appropriate for winding up the limited partnership’s activities and affairs; or
(2) Would have bound the limited partnership under § 29-704.02 before dissolution, if, at the time the other party enters into the transaction, the other party does not have notice or knowledge of the dissolution.
(b) A person dissociated as a general partner shall bind a limited partnership through an act occurring after dissolution if:
(1) At the time the other party enters into the transaction:
(A) Less than 2 years has 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 § 29-704.02 before dissolution and at the time the other party enters into the transaction the other party does not have notice or knowledge of the dissolution.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(g)(9)(D), 59 DCR 13171.)
Section ReferencesThis section is referenced in § 29-706.07, § 29-708.03, and § 29-708.05.
Effect of AmendmentsThe 2013 amendment by D.C. Law 19-210 substituted “activities and affairs” for “activities” in (a)(1); and substituted “notice or knowledge” for “notice” in (a)(2) and (b)(2)(B).
Editor's NotesUniform Law: This section is based on § 804 of the Uniform Limited Partnership Act (2001 Act).
Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.