LD 1609
pg. 29
Page 28 of 146 PUBLIC Law Chapter 543 Page 30 of 146
Download Chapter Text
LR 1469
Item 1

 
A.__Reasonably believed that the dissociated partner was
then a partner;

 
B.__Did not have notice of the partner's dissociation; and

 
C.__Is not deemed to have notice under section 1074,
subsection 2.

 
2.__Liability for obligation after dissociation.__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 1.

 
§1073.__Dissociated partner's liability to other persons

 
1.__Liability for partnership obligation.__A partner's
dissociation does not of itself discharge the partner's liability
for a partnership obligation incurred before dissociation.__A
dissociated partner is not liable for a partnership obligation
incurred after dissociation, except as otherwise provided in
subsection 2.

 
2.__Liability to other party.__A partner who dissociates
without resulting in a dissolution and winding up of the
partnership business is liable as a partner to the other party in
a transaction entered into by the partnership, or a surviving
partnership under subchapter 9, within 2 years after the
partner's dissociation, only if the partner is liable for the
obligation under section 1034 and at the time of entering into
the transaction the other party:

 
A.__Reasonably believed that the dissociated partner was
then a partner;

 
B.__Did not have notice of the partner's dissociation; and

 
C.__Is not deemed to have had notice under section 1074,
subsection 2.

 
3.__Released from liability for partnership obligation by
agreement.__By agreement with the partnership creditor and the
partners continuing the business, a dissociated partner may be
released from liability for a partnership obligation.

 
4.__Released from liability for partnership obligation because
of material alteration.__A dissociated partner is released from
liability for a partnership obligation if a partnership creditor,
with notice of the partner's dissociation but without the
partner's consent, agrees to a material


Page 28 of 146 Top of Page Page 30 of 146
Related Pages
  Search Bill Text Legislative Information
Bill Directory Search
Bill
Status
Session Information
119th Legislature Bills Maine Legislature

Office of Legislative Information
100 State House Station
Augusta, ME 04333
voice: (207) 287-1692
fax: (207) 287-1580
tty: (207) 287-6826
Word Viewer for Windows Disclaimer