Okla. Stat. tit. 54, § 54-1-702
This is the official text of Okla. Stat. tit. 54, § 54-1-702, 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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Dissociated Partner's Power to Bind and Liability to
Official statutory text
Partnership.
Dissociated Partner's Power to Bind and Liability to
Partnership. (a) For two (2) years after a partner dissociates
without resulting in a dissolution and winding up of the partnership
business, the partnership, including a surviving partnership under
Article 9 of this act, is bound by an act of the dissociated partner
which would have bound the partnership under Section 13 of this act
before dissociation only if at the time of entering into the
transaction the other party:
(1) reasonably believed that the dissociated partner was then a
partner;
(2) did not have notice of the partner's dissociation; and
(3) is not deemed to have had knowledge under subsection (e) of
Section 15 of this act or notice under subsection (c) of Section 38
of this act.
(b) A dissociated partner is liable to the partnership for any
damage caused to the partnership arising from an obligation incurred
by the dissociated partner after dissociation for which the
partnership is liable under subsection (a) of this section.
Dissociated Partner's Power to Bind and Liability to
Partnership. (a) For two (2) years after a partner dissociates
without resulting in a dissolution and winding up of the partnership
business, the partnership, including a surviving partnership under
Article 9 of this act, is bound by an act of the dissociated partner
which would have bound the partnership under Section 13 of this act
before dissociation only if at the time of entering into the
transaction the other party:
(1) reasonably believed that the dissociated partner was then a
partner;
(2) did not have notice of the partner's dissociation; and
(3) is not deemed to have had knowledge under subsection (e) of
Section 15 of this act or notice under subsection (c) of Section 38
of this act.
(b) A dissociated partner is liable to the partnership for any
damage caused to the partnership arising from an obligation incurred
by the dissociated partner after dissociation for which the
partnership is liable under subsection (a) of this section.
Status: in_force · Read it on the official government site
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