{"data":{"id":"us-mt/35-12-1022","jurisdiction":"us-mt","citation":"35-12-1022","heading":"Liability to other persons of person dissociated as general partner.","body":"(1) 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 (2) and (3), the person is not liable for a limited partnership's obligation incurred after dissociation.\n(2) 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 35-12-803 on an obligation incurred by the limited partnership under 35-12-1211.\n(3) 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:\n(a) a general partner would be liable on the transaction; and\n(b) at the time the other party enters into the transaction:\n(i) less than 2 years has passed since the dissociation; and\n(ii) the other party does not have notice of the dissociation and reasonably believes that the person is a general partner.\n(4) 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(5) 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":["TITLE 35. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS","CHAPTER 12. LIMITED PARTNERSHIPS","Part 10. Distribution and Dissociation"],"source_url":"https://mca.legmt.gov/bills/mca/title_0350/chapter_0120/part_0100/section_0220/0350-0120-0100-0220.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:53:24Z","sha256":"5aff382893551061ec6b4c85bb3a2909fdecf810ec98df8e2961b75cf698bb21","source_id":"us-mt","stale":false,"prev":"us-mt/35-12-1021","next":"us-mt/35-12-1101"},"notice":"GroundRules: Original legal text. Not legal advice."}