{"data":{"id":"us-ar/ark.-code-ann.-4-47-607","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-47-607","heading":"Liability to other persons of person dissociated as general partner","body":"(a) A person's dissociation as a general partner does not of itself discharge the person's liability as a general partner for an obligation of the limited partnership incurred before dissociation. Except as otherwise provided in subsections (b) and (c), the person is not liable for a limited partnership's obligation incurred after dissociation. (b) A person whose dissociation as a general partner resulted in a dissolution and winding up of the limited partnership's activities is liable to the same extent as a general partner under § 4-47-404 on an obligation incurred by the limited partnership under § 4-47-804 . (c) A person that has dissociated as a general partner but whose dissociation did not result in a dissolution and winding up of the limited partnership's activities is liable on a transaction entered into by the limited partnership after the dissociation only if: (1) a general partner would be liable on the transaction; and (2) at the time the other party enters into the transaction: (A) less than two 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. (d) By agreement with a creditor of a limited partnership and the limited partnership, a person dissociated as a general partner may be released from liability for an obligation of the limited partnership. (e) A person dissociated as a general partner is released from liability for an obligation of the limited partnership if the limited partnership's creditor, with notice of the person's dissociation as a general partner but without the person's consent, agrees to a material alteration in the nature or time of payment of the obligation. Acts 2007, No. 15, § 1.\n\n(a) A person's dissociation as a general partner does not of itself discharge the person's liability as a general partner for an obligation of the limited partnership incurred before dissociation. Except as otherwise provided in subsections (b) and (c), the person is not liable for a limited partnership's obligation incurred after dissociation.\n\n(b) A person whose dissociation as a general partner resulted in a dissolution and winding up of the limited partnership's activities is liable to the same extent as a general partner under § 4-47-404 on an obligation incurred by the limited partnership under § 4-47-804 .\n\n(c) A person that has dissociated as a general partner but whose dissociation did not result in a dissolution and winding up of the limited partnership's activities is liable on a transaction entered into by the limited partnership after the dissociation only if: (1) a general partner would be liable on the transaction; and (2) at the time the other party enters into the transaction: (A) less than two 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.\n\n(1) a general partner would be liable on the transaction; and\n\n(2) at the time the other party enters into the transaction: (A) less than two 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.\n\n(A) less than two years has passed since the dissociation; and\n\n(B) the other party does not have notice of the dissociation and reasonably believes that the person is a general partner.\n\n(d) By agreement with a creditor of a limited partnership and the limited partnership, a person dissociated as a general partner may be released from liability for an obligation of the limited partnership.\ntner.\n\n(A) less than two years has passed since the dissociation; and\n\n(B) the other party does not have notice of the dissociation and reasonably believes that the person is a general partner.\n\n(d) By agreement with a creditor of a limited partnership and the limited partnership, a person dissociated as a general partner may be released from liability for an obligation of the limited partnership.\n\n(e) A person dissociated as a general partner is released from liability for an obligation of the limited partnership if the limited partnership's creditor, with notice of the person's dissociation as a general partner but without the person's consent, agrees to a material alteration in the nature or time of payment of the obligation.","path":["AR Code","Title 4","Chapter 47","Subchapter 6"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"62f2801cad0b9978f9e4ce1ab2d4cf4de03db1d7d85acdd5c0a82408821115a9","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-47-606","next":"us-ar/ark.-code-ann.-4-47-701"},"notice":"GroundRules: Original legal text. Not legal advice."}