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Okla. Stat. tit. 54, § 54-500-607A

This is the official text of Okla. Stat. tit. 54, § 54-500-607A, 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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Liability to other persons of person dissociated as

Official statutory text

general partner.

LIABILITY TO OTHER PERSONS OF PERSON DISSOCIATED AS GENERAL

PARTNER.

(a) A person’s dissociation as a general partner does not of

itself discharge the person’s liability as a general partner for an

obligation of the limited partnership incurred before dissociation.

Except as otherwise provided in subsections (b) and (c) of this

section, the person is not liable for a limited partnership’s

obligation incurred after dissociation.

(b) A person whose dissociation as a general partner resulted

in a dissolution and winding up of the limited partnership’s

activities is liable to the same extent as a general partner under

Section 38 of this act on an obligation incurred by the limited

partnership under Section 66 of this act.

(c) A person that has dissociated as a general partner but

whose dissociation did not result in a dissolution and winding up of

the limited partnership’s activities is liable on a transaction

entered into by the limited partnership after the dissociation only

if:

(1) a general partner would be liable on the transaction; and

(2) at the time the other party enters into the transaction:

(A) less than two (2) years has passed since the

dissociation; and

(B) the other party does not have notice of the

dissociation and reasonably believes that the person

is a general partner.

(d) By agreement with a creditor of a limited partnership and

the limited partnership, a person dissociated as a general partner

may be released from liability for an obligation of the limited

partnership.

(e) A person dissociated as a general partner is released from

liability for an obligation of the limited partnership if the

limited partnership’s creditor, with notice of the person’s

dissociation as a general partner but without the person’s consent,

agrees to a material alteration in the nature or time of payment of

the obligation.

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.