Public-domain · open source
OpenJurist

§ 54-1A-805 NMSA 1978

Statement of dissolution

Known as the Uniform Partnership Act

The act spans §§ 54–54 (67 sections).

Laws 1996, ch. 53, § 805.

(a) After dissolution, a partner who has not wrongfully dissociated may file a statement of dissolution stating the name of the partnership and that the partnership has dissolved and is winding up its business.

(b) A statement of dissolution cancels a filed statement of partnership authority for the purposes of Section 303(d) [ 54-1A-303 (d) NMSA 1978] and is a limitation on authority for the purposes of Section 303(e) [ 54-1A-303 (e) NMSA 1978].

(c) For the purposes of Sections 301 [ 54-1A-301 NMSA 1978] and 804 [ 54-1A-804 NMSA 1978], a person not a partner is deemed to have notice of the dissolution and the limitation on the partners' authority as a result of the statement of dissolution ninety days after it is filed.

(d) After filing and, if appropriate, recording a statement of dissolution, a dissolved partnership may file and, if appropriate, record a statement of partnership authority which will operate with respect to a person not a partner as provided in Section 303(d) and (e) in any transaction, whether or not the transaction is appropriate for winding up the partnership business.

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.