2019 US Virgin Islands Code
Title 26 - Partnerships
Chapter 1 - Uniform Partnership Act
Subchapter VII - Partner's Dissociation When Business Not Wound Up
§ 142. Dissociated partner's power to bind and liability to partnership
(a) For two years after a partner dissociates without resulting in a dissolution and winding up of the partnership business, the partnership, including a surviving partnership under subchapter IX, is bound by an act of the dissociated partner which would have bound the partnership under section 841 of this chapter before dissociation only if at the time of entering into the transaction the other party:
(1) reasonably believed that the dissociated partner was then a partner;
(2) did not have notice of the partner's dissociation; and
(3) is not deemed to have had knowledge under section 43, subsection (e) of this chapter or notice under section 144, subsection (c) of this chapter.
(b) 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 (a) of this section.
