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S.D. Codified Laws § 48-7A-806

Partner's liability to other partners after dissolution

Known as the Uniform Partnership Act

The act spans §§ 48–48 (74 sections).

Source: SL 2001, ch 249, § 806.

(a) Except as otherwise provided in subsection (b) and § 48-7A-306, after dissolution a partner is liable to the other partners for the partner's share of any partnership liability incurred under § 48-7A-804.

(b) A partner who, with knowledge of the dissolution, incurs a partnership liability under subsection 48-7A-804(2) by an act that is not appropriate for winding up the partnership business is liable to the partnership for any damage caused to the partnership arising from the liability.

Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.