§425E-805 - Liability after dissolution of general partner and person dissociated as general partner to limited partnership, other general partners, and persons dissociated as general partners.
[§425E-805] Liability after
dissolution of general partner and person dissociated as general partner to
limited partnership, other general partners, and persons dissociated as general
partners. (a) If a general partner having knowledge of the
dissolution causes a limited partnership to incur an obligation under section
425E-804(a) by an act that is not appropriate for winding up the partnership's
activities, the general partner shall be liable:
(1) To the limited partnership for any damage caused
to the limited partnership arising from the obligation; and
(2) If another general partner or a person
dissociated as a general partner is liable for the obligation, to that other
general partner or person for any damage caused to that other general partner
or person arising from the liability.
(b) If a person dissociated as a general
partner causes a limited partnership to incur an obligation under section
425E-804(b), the person shall be liable:
(1) To the limited partnership for any damage caused
to the limited partnership arising from the obligation; 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]