Arizona Revised Statutes Title 29. Partnership § 29-373. Effect of transaction; definition

A. If the post-transaction entity is a domestic limited partnership, a partner of the post-transaction entity is liable for:

B. If the obligations incurred before the transaction by a domestic limited partnership that is a party to or otherwise undertakes the transaction are not to be satisfied out of the property of the post-transaction entity pursuant to the plan, the general partners of that partnership immediately before the effective date of the transaction shall contribute the amount necessary to satisfy that partnership's obligations to the post-transaction entity in the manner provided in § 29-1077, as if that partnership were dissolved.

C. A partner of a domestic limited partnership that is a party to or otherwise undertakes a transaction who does not become a partner or other interest holder of the post-transaction entity is dissociated, as provided in § 29-1051, from the domestic limited partnership of which that partner was a partner, as of the date the transaction takes effect. If the dissociated partner was a general partner before the transaction, the post-transaction entity shall cause the partner's interest in the limited partnership to be purchased under § 29-334, subsection C or § 29-1061, as applicable, or another statute specifically applicable to that partner's interest with respect to a transaction. If the dissociated partner was a general partner before the transaction, the post-transaction entity is bound under § 29-1062 by an act of a general partner dissociated under this subsection and the partner is liable under § 29-1063 for transactions entered into by the post-transaction entity after the transaction takes effect.

D. For the purposes of this section, “post-transaction entity” means any of the following, as applicable: