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D.C. Code § 29-708.04

Power of general partner and person dissociated as general partner to bind partnership after dissolution

Known as the Uniform Limited Partnership Act

The act spans §§ 29–29 (80 sections).

July 2, 2011, D.C

(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.

Official source: D.C. Law Library (Council of the District of Columbia). Reproduced from public-domain District of Columbia statutes; confirm against the official source for the current text. Not legal advice.