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§ 54-1A-704 NMSA 1978

Statement of dissociation

Known as the Uniform Partnership Act

The act spans §§ 54–54 (67 sections).

Laws 1996, ch. 53, § 704.

(a) A dissociated partner or the partnership may file a statement of dissociation stating the name of the partnership and that the partner is dissociated from the partnership.

(b) A statement of dissociation is a limitation on the authority of a dissociated partner for the purposes of Section 303(d) and (e) [54-1A-303(d) and (e) NMSA 1978].

(c) For the purposes of Sections 702(a)(3) [ 54-1A-702 (a)(3) NMSA 1978] and 703(b)(3) [ 54-1A-703 (b)(3) NMSA 1978], a person not a partner is deemed to have notice of the dissociation ninety days after the statement of dissociation is filed.

Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.