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Pennsylvania · Through 2026-07-28 (Statute Update stamp, 15 Pa.C.S.)

15 Pa.C.S. § 8472: Power to bind and liability of person dissociated as partner.

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Where this section sits in the code
  1. Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
  2. PART III PARTNERSHIPS AND LIMITED LIABILITY COMPANIES
  3. CHAPTER 84 GENERAL PARTNERSHIPS
  4. SUBCHAPTER G DISSOCIATION AS PARTNER IF BUSINESS NOT WOUND UP

(a) When partnership bound.--After a person is dissociated as a partner without the dissociation resulting in a dissolution and winding up of the partnership business and before the partnership is merged or divided out of existence, converted or domesticated under Chapter 3 (relating to entity transactions), or dissolved, the partnership is bound by an act of the person only if:

(1) the act would have bound the partnership under section 8431 (relating to partner agent of partnership) before dissociation; and

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

(i) less than two years have passed since the dissociation; and

(ii) the other party does not know or have notice of the dissociation and reasonably believes that the person is a partner.

(b) Liability of person dissociated as partner.--If a partnership is bound under subsection (a), the person dissociated as a partner which caused the partnership to be bound is liable:

(1) to the partnership for any damage caused to the partnership arising from the obligation incurred under subsection (a); and

(2) if a partner or another person dissociated as a partner is liable for the obligation, to the partner or other person for any damage caused to the partner or other person arising from the liability.

Collected 2026-09-02T16:31:13Z. Source file · JSON

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