[§425E-606]  Power to bind, and
liability to, limited partnership before dissolution of partnership of a person
dissociated as general partner.  (a)  After a person is
dissociated as a general partner and before the limited partnership is
dissolved, converted under article 11, or merged out of existence under article
11, the limited partnership shall be bound by an act of the person only if:



(1)  The act would have bound the limited partnership
under section 425E-402 before the dissociation; and



(2)  At the time the other party enters into the
transaction:



(A)  Less than two years has passed since the
dissociation; and



(B)  The other party does not have notice of
the dissociation and reasonably believes that the person is a general partner.



(b)  If a limited partnership is bound under
subsection (a), the person dissociated as a general partner which caused the
limited partnership to be bound shall be liable:



(1)  To the limited partnership for any damage caused
to the limited partnership arising from the obligation incurred under
subsection (a); and



(2)  If a general partner or another person
dissociated as a general partner is liable for the obligation, to the general
partner or other person for any damage caused to the general partner or other
person arising from the liability. [L 2003, c 210, pt of §1]