{"data":{"id":"us-ri/r.i.-gen.-laws-7-12.1-703","jurisdiction":"us-ri","citation":"R.I. Gen. Laws § 7-12.1-703","heading":"Liability of person dissociated as partner to other persons.","body":"(a) Except as otherwise provided in subsection (b) of this section, a person dissociated as a partner is not liable for a partnership obligation incurred after dissociation.\n(b) A person that is dissociated as a partner is liable on a transaction entered into by the partnership after the dissociation only if:\n(1) A partner would be liable on the transaction; and\n(2) At the time the other party enters into the transaction:\n(i) Less than two (2) years has passed since the dissociation; and\n(ii) The other party does not have knowledge or notice of the dissociation and reasonably believes that the person is a partner.\n(c) By agreement with a creditor of a partnership and the partnership, a person dissociated as a partner may be released from liability for a debt, obligation, or other liability of the partnership.\n(d) A person dissociated as a partner is released from liability for a debt, obligation, or other liability of the partnership if the partnership’s creditor, with knowledge or notice of the person’s dissociation but without the person’s consent, agrees to a material alteration in the nature or time of payment of the debt, obligation, or other liability.","path":["Title 7 Corporations, Associations, and Partnerships","Chapter 12.1 Uniform Partnership Act","Article 7 Person’s Dissociation As a Partner When Business Not Wound Up"],"source_url":"https://webserver.rilegislature.gov/Statutes/TITLE7/7-12.1/7-7/7-12.1-703.htm","current_through":"site files published 2025-08-13","vintage":"","retrieved_at":"2026-09-05T19:35:09Z","sha256":"ecf40ee9f9bed92cb713c6025aee35a1cd476e05185b94f4e605081c30e07c54","source_id":"us-ri","stale":true,"prev":"us-ri/r.i.-gen.-laws-7-12.1-702","next":"us-ri/r.i.-gen.-laws-7-12.1-704"},"notice":"GroundRules: Original legal text. Not legal advice."}