(1) Except insofar as may be necessary to wind up partnership affairs or to complete transactions begun but not then finished, dissolution terminates all authority of any partner to act for the partnership:
(a) With respect to the partners:
(I) When the dissolution is not by the act, bankruptcy, or death of a partner; or
(II) When the dissolution is by such act, bankruptcy, or death of a partner, in cases where section 7-60-134 so requires.
(b) With respect to persons not partners, as declared in section 7-60-135.
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