(a) A partner's dissociation does not of itself discharge the partner's liability for a partnership obligation incurred before dissociation. A dissociated partner is not liable for a partnership obligation incurred after dissociation, except as otherwise provided in subsection (b) of this section. (b) A partner who dissociates is liable as a partner to the other party in a transaction entered into by the partnership, or a surviving partnership under part 9 of this chapter, within two (2) years after the partner's dissociation, only if the partner is liable for the obligation under section 53-3-306 , Idaho Code, and at the time of entering into the transaction all of the following apply to the other party: (1) The other party reasonably believed that the dissociated partner was then a partner. (2) The other party did not have notice of the partner's dissociation. (3) The other party is not deemed to have had knowledge under section 53-3-303 (e), Idaho Code, or notice under section 53-3-704 (c), Idaho Code. (c) By agreement with the partnership creditor and the partners continuing the business, a dissociated partner may be released from liability for a partnership obligation. (d) A dissociated partner is released from liability for a partnership obligation if a partnership creditor, with notice of the partner's dissociation but without the partner's consent, agrees to a material alteration in the nature or time of payment of a partnership obligation.
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