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§ 8411. Short title and application of chapter

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 15 Pa.C.S.A. Corporations and Unincorporated AssociationsEffective: January 3, 2023

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 A. General Provisions
Effective: January 3, 2023
15 Pa.C.S.A. § 8411
Formerly cited as PA ST 15 Pa.C.S.A. § 8301
§ 8411. Short title and application of chapter
Currentness
(a) Short title.--This chapter shall be known and may be cited as the Pennsylvania Uniform Partnership Act of 2016.
(b) Initial application.--Before April 1, 2017, this chapter governs only:
(1) a partnership formed on or after February 21, 2017; and
(2) except as provided in subsection (d), a partnership formed before February 21, 2017, which elects, in the manner provided in its partnership agreement or by law for amending the partnership agreement, to be subject to this chapter.
(c) Full effective date.--Except as provided under subsection (d), on and after April 1, 2017, this chapter governs all partnerships.
(d) Liabilities to third parties.--With respect to a partnership that elects under subsection (b)(2) to be subject to this chapter, after the election takes effect the provisions of this chapter relating to the liability of the partnership's partners to third parties apply:
(1) before April 1, 2017, to:
(i) a third party that had not done business with the partnership in the year before the election took effect; and
(ii) a third party that had done business with the partnership in the year before the election took effect only if the third party knows or has been notified of the election; and
(2) on and after April 1, 2017, to all third parties, except that those provisions remain inapplicable to any obligation incurred while those provisions were inapplicable under paragraph (1)(ii).
(e) References to withdrawal.--A reference in a partnership agreement to the withdrawal of a partner shall be deemed to be a reference to the dissociation of the partner.
(f) Cross reference.--See section 8415(c)(5) (relating to contents of partnership agreement).

Credits

2016, Nov. 21, P.L. 1328, No. 170, § 25, effective in 90 days [Feb. 21, 2017]. Amended 2022, Nov. 3, P.L. 1791, No. 122, § 97, effective in 60 days [Jan. 3, 2023].
15 Pa.C.S.A. § 8411, PA ST 15 Pa.C.S.A. § 8411
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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