362.2-804 Power of general partner and person dissociated as general partner to bind partnership after dissolution. (1) A limited partnership is bound by a general partner's act after dissolution which: (a) Is appropriate for winding up the limited partnership's activities; or (b) Would have bound the limited partnership under KRS 362.2-402 before dissolution if, at the time the other party enters into the transaction, the other party does not have notice of the dissolution. (2) A person dissociated as a general partner binds a limited partnership through an act occurring after dissolution if: (a) At the time the other party enters into the transaction: 1. 2. Less than two (2) years has passed since the dissociation; and The other party does not have notice of the dissociation and reasonably believes that the person is a general partner; and (b) The act: 1. Is appropriate for winding up the limited partnership's activities; or 2. Would have bound the limited partnership under KRS 362.2-402 before dissolution and, at the time the other party enters into the transaction, the other party does not have notice of the dissolution. Effective: July 12, 2006 History: Created 2006 Ky. Acts ch. 149, sec. 152, effective July 12, 2006.
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