Okla. Stat. tit. 54, § 54-1-1206

This is the official text of Okla. Stat. tit. 54, § 54-1-1206, part of Oklahoma’s Stat. tit. 54, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 54,." Browse the sections below, each linked to its official government source.

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Applicability

Official statutory text

Applicability. (a) Before November 1, 1998, the Oklahoma

Revised Uniform Partnership Act governs only:

(1) a partnership or limited liability partnership formed on or

after November 1, 1997, unless that partnership or limited liability

partnership is continuing the business of a dissolved partnership or

limited liability partnership; and

Oklahoma Statutes - Title 54. Partnership Page 53

(2) a partnership or limited liability partnership formed

before November 1, 1997, that elects, as provided by subsection (c)

of this section, to be governed by the Oklahoma Revised Uniform

Partnership Act.

(b) On and after November 1, 1998, the Oklahoma Revised Uniform

Partnership Act governs all partnerships and limited liability

partnerships.

(c) Before November 1, 1998, a partnership or limited liability

partnership voluntarily may elect, in the manner provided in its

partnership agreement or by law for amending the partnership

agreement, to be governed by the Oklahoma Revised Uniform

Partnership Act. The provisions of the Oklahoma Revised Uniform

Partnership Act relating to the liability of the partnership's

partners to third parties apply to limit those partners' liability

to a third party who had done business with the partnership or

limited liability partnership within one (1) year preceding the

election to be governed by the Oklahoma Revised Uniform Partnership

Act only if the third party knows or has received a notification of

the election to be governed by the Oklahoma Revised Uniform

Partnership Act.

(d) Before November 1, 1998, a partnership or limited liability

partnership continues to be governed by the law in effect prior to

November 1, 1997.

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.