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Tenn. Code Ann. § 61-3-804

Power to bind partnership after dissolution

Known as the Tennessee Uniform Limited Partnership Act

The act spans §§ 61-2-1001 to 61-3-906 (205 sections).

Acts 2017, ch. 440, § 1.

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

(2) Would have bound the partnership under § 61-3-402 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 one (1) year 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 limited partnership's activities and affairs; or

(6) Would have bound the limited partnership under § 61-3-402 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: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.