Power to bind partnership after dissolution.

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  • (1) A partnership is bound by a partner's act after dissolution which:
    • (a) is appropriate for winding up the partnership's activities and affairs; or
    • (b) would have bound the partnership under Section 48-1d-301 before dissolution, if, at the time the other party enters into the transaction, the other party does not know or have notice of the dissolution.
  • (2) A person dissociated as a partner binds a partnership through an act occurring after dissolution if at the time the other party enters into the transaction:
    • (a) less than two years has passed since the dissociation;
    • (b) the other party does not have notice of the dissociation and reasonably believes that the person is a partner; and
    • (c) the act:
      • (i) is appropriate for winding up the partnership's activities and affairs; or
      • (ii) would have bound the partnership under Section 48-1d-301 before dissolution, and at the time the other party enters into the transaction the other party does not know or have notice of the dissolution.




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