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Idaho Code § 30-24-804

Power to bind partnership after dissolution

Known as the Idaho Uniform Limited Partnership Act

The act spans §§ 30–30 (65 sections).

I.C., § 30-24 -804, as added by 2015, ch. 243, § 40, p. 758.

(1) A limited partnership is bound by a general partner’s act after dissolution which: Is appropriate for winding up the partnership’s activities and affairs; or

(2) Would have bound the partnership under section 30-24-402, Idaho Code, 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.

(3) A person dissociated as a general partner binds a limited partnership through an act occurring after dissolution if: At the time the other party enters into the transaction: Less than two (2) years has passed since the dissociation; and

(4) The other party does not know or have notice of the dissociation and reasonably believes that the person is a general partner; and

(5) The act: Is appropriate for winding up the partnership’s activities and affairs; or

(6) Would have bound the partnership under section 30-24-402, Idaho Code, 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.

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.