§ 500-1111A. Liability of general partner after conversion or merger
Oklahoma Statutes AnnotatedTitle 54. Partnership
54 Okl.St.Ann. § 500-1111A
§ 500-1111A. Liability of general partner after conversion or merger
LIABILITY OF GENERAL PARTNER AFTER CONVERSION OR MERGER.
(1) a person that immediately before a conversion or merger became effective was a general partner in a converting or constituent limited partnership that was not a limited liability limited partnership is personally liable for each obligation of the converted or surviving organization arising from a transaction with a third party after the conversion or merger becomes effective, if, at the time the third party enters into the transaction, the third party:
(2) a person that was dissociated as a general partner from a converting or constituent limited partnership before the conversion or merger became effective is personally liable for each obligation of the converted or surviving organization arising from a transaction with a third party after the conversion or merger becomes effective, if:
(iii) reasonably believes that the converted or surviving organization is the converting or constituent limited partnership, the converting or constituent limited partnership is not a limited liability limited partnership, and the person is a general partner in the converting or constituent limited partnership.
Credits
Laws 2010, c. 384, § 98, eff. Jan. 1, 2011.
54 Okl. St. Ann. § 500-1111A, OK ST T. 54 § 500-1111A
Current with legislation of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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