Idaho Code § 30-24-805

Current through the 2024 Regular Session
Section 30-24-805 - LIABILITY AFTER DISSOLUTION OF GENERAL PARTNER AND PERSON DISSOCIATED AS GENERAL PARTNER
(a) If a general partner having knowledge of the dissolution causes a limited partnership to incur an obligation under section 30-24-804(a), Idaho Code, by an act that is not appropriate for winding up the partnership's activities and affairs, the general partner is liable:
(1) To the partnership for any damage caused to the 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 section 30-24-804(b), Idaho Code, the person is liable:
(1) To the partnership for any damage caused to the partnership arising from the obligation; and
(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 obligation.

Idaho Code § 30-24-805

[30-24-805, added 2015, ch. 243, sec. 40, p. 865.]
Added by 2015 Session Laws, ch. 243,sec. 40, eff. 7/1/2015.