(1) A partnership is bound by a partner's act after dissolution which:
(a) is appropriate for winding up the partnership's activities and affairs; or
(b) would have bound the partnership under Section 16-18-301 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.
(2) A person dissociated as a partner binds a partnership through an act occurring after dissolution if at the time the other party enters into the transaction:
(a) less than two years has passed since the dissociation;
(b) the other party does not have notice of the dissociation and reasonably believes that the person is a partner; and
(c) the act:
(i) is appropriate for winding up the partnership's activities and affairs; or
(ii) would have bound the partnership under Section 16-18-301 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.