Okla. Stat. tit. 54, § 54-500-805A
This is the official text of Okla. Stat. tit. 54, § 54-500-805A, 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 after dissolution of general partner and
Official statutory text
person dissociated as general partner to limited partnership - Other
general partners - Persons dissociated as general partner.
LIABILITY AFTER DISSOLUTION OF GENERAL PARTNER AND PERSON
DISSOCIATED AS GENERAL PARTNER TO LIMITED PARTNERSHIP, OTHER GENERAL
PARTNERS, AND PERSONS DISSOCIATED AS GENERAL PARTNER.
(a) If a general partner having knowledge of the dissolution
causes a limited partnership to incur an obligation under subsection
(a) of Section 66 of this act by an act that is not appropriate for
winding up the partnership’s activities, the general partner is
liable:
(1) to the limited partnership for any damage caused to the
limited partnership arising from the obligation; and
(2) if another general partner or a person dissociated as a
general partner is liable for the obligation, to that other general
partner or person for any damage caused to that other general
partner or person arising from the liability.
(b) If a person dissociated as a general partner causes a
limited partnership to incur an obligation under subsection (b) of
Section 66 of this act, the person is liable:
(1) to the limited partnership for any damage caused to the
limited partnership arising from the obligation; and
Oklahoma Statutes - Title 54. Partnership Page 128
(2) 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.
general partners - Persons dissociated as general partner.
LIABILITY AFTER DISSOLUTION OF GENERAL PARTNER AND PERSON
DISSOCIATED AS GENERAL PARTNER TO LIMITED PARTNERSHIP, OTHER GENERAL
PARTNERS, AND PERSONS DISSOCIATED AS GENERAL PARTNER.
(a) If a general partner having knowledge of the dissolution
causes a limited partnership to incur an obligation under subsection
(a) of Section 66 of this act by an act that is not appropriate for
winding up the partnership’s activities, the general partner is
liable:
(1) to the limited partnership for any damage caused to the
limited partnership arising from the obligation; and
(2) if another general partner or a person dissociated as a
general partner is liable for the obligation, to that other general
partner or person for any damage caused to that other general
partner or person arising from the liability.
(b) If a person dissociated as a general partner causes a
limited partnership to incur an obligation under subsection (b) of
Section 66 of this act, the person is liable:
(1) to the limited partnership for any damage caused to the
limited partnership arising from the obligation; and
Oklahoma Statutes - Title 54. Partnership Page 128
(2) 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.
Status: in_force · Read it on the official government site
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