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Oklahoma · Snapshot open-us-law v2026.08, retrieved 2026-09-14

Okla. Stat. tit. 54, § 54-500-606A: Power to bind and liability to limited partnership

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  1. OK Code
  2. Title 54

before dissolution of partnership of person dissociated as general

partner.

POWER TO BIND AND LIABILITY TO LIMITED PARTNERSHIP BEFORE

DISSOLUTION OF PARTNERSHIP OF PERSON DISSOCIATED AS GENERAL PARTNER.

(a) After a person is dissociated as a general partner and

before the limited partnership is dissolved, converted under Article

11 of this act, or merged out of existence under Article 11 of this

act, the limited partnership is bound by an act of the person only

if:

(1) the act would have bound the limited partnership under

Section 36 of this act before the dissociation; and

(2) at the time the other party enters into the transaction:

(A) less than two (2) years has passed since the

dissociation; and

(B) the other party does not have notice of the

dissociation and reasonably believes that the person

is a general partner.

(b) If a limited partnership is bound under subsection (a) of

this section, the person dissociated as a general partner which

caused the limited partnership to be bound is liable:

(1) to the limited partnership for any damage caused to the

limited partnership arising from the obligation incurred under

subsection (a) of this section; 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 liability.

Collected 2026-09-14T18:32:36Z. Source file · JSON

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