{"data":{"id":"us-ky/krs-362.1-702","jurisdiction":"us-ky","citation":"KRS 362.1-702","heading":"Dissociated partner's power to bind and liability to partnership.","body":"(1) For two (2) years after a partner dissociates without resulting in a dissolution and\nwinding up of the partnership business, the partnership, including a surviving\npartnership under KRS 362.1 -901 to 362.1 -908, is bound by an act of the\ndissociated partner which would have bound the partnership under KRS 362.1 -301\nbefore dissociation only if at the time of entering into the transaction the other party:\n(a) Reasonably believed that the dissociated partner was then a partner;\n(b) Did not have notice of the partner's dissociation; and\n(c) Is not deemed to have knowledge under KRS 362.1 -303(5) or notice under\nKRS 362.1-704(3).\n(2) A dissociated partner is liable to the partnership for any damage caused to the\npartnership arising from an obligation incurred by the  dissociated partner after\ndissociation for which the partnership is liable under subsection (1) of this section.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34499","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:57Z","sha256":"d8a899e6372432d79ceb384f7e22ee5baf971eaa4b983e38647f4489e7d2e78c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.1-701","next":"us-ky/krs-362.1-703"},"notice":"GroundRules: Original legal text. Not legal advice."}