LD 1609
pg. 105
Page 104 of 146 PUBLIC Law Chapter 543 Page 106 of 146
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LR 1469
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A.__To the limited partnership for any damage caused to the
limited partnership arising from the obligation; and

 
B.__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.

 
2.__Dissociated general partner liable for incurring
obligation.__If a person dissociated as a general partner causes
a limited partnership to incur an obligation under section 1394,
subsection 2, the person is liable:

 
A.__To the limited partnership for any damage caused to the
limited partnership arising from the obligation; and

 
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.

 
§1396.__Known claims against dissolved limited partnership

 
1.__Dispose of known claims.__A dissolved limited partnership
may dispose of the known claims against it by following the
procedure described in subsection 2.

 
2.__Notice of dissolution.__A dissolved limited partnership
may notify its known claimants of the dissolution in a record.
The notice must:

 
A.__Specify the information required to be included in a
claim;

 
B.__Provide a mailing address to which the claim is to be
sent;

 
C.__State the deadline for receipt of the claim, which may
not be less than 120 days after the date the notice is
received by the claimant;

 
D.__State that the claim will be barred if not received by
the deadline; and

 
E.__Unless the limited partnership has been throughout its
existence a limited liability limited partnership, state
that the barring of a claim against the limited partnership
will also bar any corresponding claim against any general
partner or person dissociated as a general partner that is
based on section 1354.


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