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§ 8484. Power to bind partnership after dissolution

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 15 Pa.C.S.A. Corporations and Unincorporated AssociationsEffective: February 21, 2017

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 15 Pa.C.S.A. Corporations and Unincorporated Associations (Refs & Annos)
Part III. Partnerships and Limited Liability Companies (Refs & Annos)
Chapter 84. General Partnerships (Refs & Annos)
Subchapter H. Dissolution and Winding up
Effective: February 21, 2017
15 Pa.C.S.A. § 8484
Formerly cited as PA ST 15 Pa.C.S.A. § 8355;  PA ST 15 Pa.C.S.A. § 8357
§ 8484. Power to bind partnership after dissolution
Currentness
(a) Power of partner.--A partnership is bound by a partner's act after dissolution which:
(1) is appropriate for winding up the partnership business; or
(2) would have bound the partnership under section 8431 (relating to partner agent of partnership) 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.
(b) Power of person dissociated as partner.--A person dissociated as a partner binds a partnership through an act occurring after dissolution if:
(1) at the time the other party enters into the transaction:
(i) less than two years have passed since the dissociation; and
(ii) the other party does not know or have notice of the dissociation and reasonably believes that the person is a partner; and
(2) the act:
(i) is appropriate for winding up the partnership's business; or
(ii) would have bound the partnership under section 8431 before dissolution and the other party does not know or have notice of the dissolution at the time the other party enters into the transaction.

Credits

2016, Nov. 21, P.L. 1328, No. 170, § 25, effective in 90 days [Feb. 21, 2017].
15 Pa.C.S.A. § 8484, PA ST 15 Pa.C.S.A. § 8484
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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