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§ 1-301. Partner agent of partnership

Oklahoma Statutes AnnotatedTitle 54. Partnership

Oklahoma Statutes Annotated
Title 54. Partnership
Chapter 1. Oklahoma Revised Uniform Partnership Act (Refs & Annos)
Article 3. Relations of Partners to Persons Dealing with Partnership
54 Okl.St.Ann. § 1-301
§ 1-301. Partner agent of partnership
Currentness
Partner Agent of Partnership. Subject to the effect of a statement of partnership authority under Section 15 of this act:1
(1) Each partner is an agent of the partnership for the purpose of its business. An act of a partner, including the execution of an instrument in the partnership name, for apparently carrying on in the ordinary course the partnership business or business of the kind carried on by the partnership binds the partnership, unless the partner had no authority to act for the partnership in the particular matter and the person with whom the partner was dealing knew or had received a notification that the partner lacked authority.
(2) An act of a partner which is not apparently for carrying on in the ordinary course the partnership business or business of the kind carried on by the partnership binds the partnership only if the act was authorized by the other partners.

Credits

Laws 1997, c. 399, § 13, eff. Nov. 1, 1997.

Footnotes

1
Title 54, § 1-303.
54 Okl. St. Ann. § 1-301, OK ST T. 54 § 1-301
Current with emergency effective legislation through Chapter 332 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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