Section 10A-9A-8.04 - Power of general partner and person dissociated as general partner to bind partnership after dissolution(a) A limited partnership is bound by a general partner's act after dissolution which: (1) is appropriate for winding up the limited partnership's activities and affairs; or(2) would have bound the limited partnership under Section 10A-9A-4.02 before dissolution, if, at the time the other party enters into the transaction, the other party does not have notice of the dissolution.(b) A person dissociated as a general partner binds a limited partnership through an act occurring after dissolution only if:(1) at the time the other party enters into the transaction the other party does not have notice of the dissociation and reasonably believes that the person is a general partner; and(2) the act: (A) is appropriate for winding up the limited partnership's activities and affairs; or(B) would have bound the limited partnership under Section 10A-9A-4.02 before dissolution and at the time the other party enters into the transaction the other party does not have notice of the dissolution.Ala. Code § 10A-9A-8.04 (1975)
Added by Act 2016-379,§ 1, eff. 1/1/2017.