620.1606 Power to bind and liability to limited partnership before dissolution of partnership of person dissociated as general partner.—
(1) After a person is dissociated as a general partner and before the limited partnership is dissolved, converted under s. 620.2102, or merged out of existence under s. 620.2106, the limited partnership is bound by an act of the person only if:
(a) The act would have bound the limited partnership under s. 620.1402 before the dissociation.
(b) At the time the other party enters into the transaction:
1. Less than 2 years have passed since the dissociation.
2. The other party does not have notice of the dissociation and reasonably believes that the person is a general partner.
(2) If a limited partnership is bound under subsection (1), the person dissociated as a general partner which caused the limited partnership to be bound is liable:
(a) To the limited partnership for any damage caused to the limited partnership arising from the obligation incurred under subsection (1).
(b) If a general partner or another person dissociated as a general partner is liable for the obligation, to the general partner or other person for any damage caused to the general partner or other person arising from the liability.
History.—s. 17, ch. 2005-267.
Section: Previous 620.1508 620.1509 620.1601 620.1602 620.1603 620.1604 620.1605 620.1606 620.1607 620.1701 620.1702 620.1703 620.1704 620.1801 620.1802 NextLast modified: September 23, 2016