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Idaho Code § 30-23-107

Partnership agreement — Effect on third parties and relationship to records effective on behalf of partnership

Known as the Idaho Uniform Partnership Act

The act spans §§ 30–30 (63 sections).

I.C., § 30-23 -107, as added by 2015, ch. 243, § 23, p. 758; am. 2020, ch. 82, § 20, p. 174.

(1) A partnership agreement may specify that its amendment requires the approval of a person that is not a party to the agreement or the satisfaction of a condition. An amendment is ineffective if its adoption does not include the required approval or satisfy the specified condition.

(2) The obligations of a partnership and its partners to a person in the person’s capacity as a transferee or person dissociated as a partner are governed by the partnership agreement. Subject only to a court order issued under section 30-23-504(b)(2), Idaho Code, to effectuate a charging order, an amendment to the partnership agreement made after a person becomes a transferee or is dissociated as a partner: Is effective with regard to any debt, obligation, or other liability of the partnership or its partners to the person in the person’s capacity as a transferee or person dissociated as a partner; and

(3) Is not effective to the extent the amendment: Imposes a new debt, obligation, or other liability on the transferee or person dissociated as a partner; or

(4) Prejudices the rights under section 30-23-701, Idaho Code, of a person that dissociated as a partner before the amendment was made.

(5) If a record delivered by a partnership to the secretary of state for filing becomes effective under this chapter and contains a provision that would be ineffective under section 30-23-105(c) or (d)(3), Idaho Code, if contained in the partnership agreement, the provision is ineffective in the record.

(6) Subject to subsection (c) of this section, if a record delivered by a partnership to the secretary of state for filing becomes effective and conflicts with a provision of the partnership agreement: The agreement prevails as to partners, persons dissociated as partners, and transferees; and

(7) The record prevails as to other persons to the extent they reasonably rely on the record.

Current official text: Idaho Statutes (Idaho Legislature). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Idaho statutes; confirm against the official source for the current text. Not legal advice.