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Idaho Code § 30-23-110

Application to existing relationships

Known as the Idaho Uniform Partnership Act

The act spans §§ 30–30 (63 sections).

I.C., § 30-23 -110, as added by 2015, ch. 243, § 23, p. 758.

(1) Before July 1, 2017, this chapter governs only: A partnership formed on or after July 1, 2015; and

(2) Except as otherwise provided in subsection (c) of this section, a partnership formed before July 1, 2015, that elects, in the manner provided in its partnership agreement or by law for amending the partnership agreement, to be subject to this chapter.

(3) Except as otherwise provided in subsection (c) of this section, on and after July 1, 2017, this chapter governs all partnerships.

(4) With respect to a partnership that elects pursuant to subsection (a)(2) of this section to be subject to this chapter, after the election takes effect the provisions of this chapter relating to the liability of the partnership’s partners to third parties apply: Before July 1, 2015, to: A third party that had not done business with the partnership in the year before the election took effect; and

(5) A third party that had done business with the partnership in the year before the election took effect only if the third party knows or has been notified of the election; and

(6) On and after July 1, 2017, to all third parties, but those provisions remain inapplicable to any obligation incurred while those provisions were inapplicable under paragraph (1)(B) of this subsection.

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.