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Ind. Code § 23-4-1-34

Right of partner to contribution from copartners after dissolution

Known as the Uniform Partnership Act

The act spans §§ 23-4-1-1 to 23-4-1-9 (62 sections).

Formerly: Acts 1949, c.114, s.34

Sec. 34. Where the dissolution is caused by the act, death or bankruptcy of a partner, each partner is liable to his copartners for his share of any liability created by any partner acting for the partnership as if the partnership had not been dissolved except in the case of one (1) of the following:

(a) The dissolution being by act of any partner, the partner acting for the partnership had knowledge of the dissolution.

(b) The dissolution being by the death or bankruptcy of a partner, the partner acting for the partnership had knowledge or notice of the death or bankruptcy.

(c) The liability is for a debt, an obligation, or a liability for which the partner is not liable as provided in section 15(2) of this chapter.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.