2012 Wyoming Statutes
TITLE 17 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS
CHAPTER 21 - UNIFORM PARTNERSHIP ACT
17-21-702. Dissociated partner's power to bind and liability to partnership.
(a) For two (2) years after a partner dissociates without resulting in a dissolution and winding up of the partnership business, the partnership, including a surviving partnership under article 9 of this chapter, is bound by an act of the dissociated partner that would have bound the partnership under W.S. 17-21-301 before dissociation only if the other party to the transaction:
(i) Reasonably believes when entering the transaction that the dissociated partner is a partner at that time;
(ii) Does not have notice of the partner's dissociation; and
(iii) Is not deemed to have notice under W.S. 17-21-303(e) or 17-21-704.
(b) A dissociated partner is liable to the partnership for any loss 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.
Disclaimer: These codes may not be the most recent version. Wyoming may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
