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Current as of January 01, 2023 | Updated by FindLaw Staff
(a) For two years after a partner dissociates without resulting in a dissolution and winding up of the partnership business, the partnership, including a surviving partnership under article 9, is bound by an act of the dissociated partner which would have bound the partnership under K.S.A. 56a-301 before dissociation only if at the time of entering into the transaction the other party:
(1) Reasonably believed that the dissociated partner was then a partner;
(2) did not have notice of the partner's dissociation; and
(3) is not deemed to have had knowledge under subsection (e) of K.S.A. 56a-303 or notice under subsection (c) of K.S.A. 56a-704.
(b) A dissociated partner is liable to the partnership for any damage caused to the partnership arising from an obligation incurred by the dissociated partner after dissociation for which the partnership is liable under subsection (a).
Cite this article: FindLaw.com - Kansas Statutes Chapter 56A. Kansas Uniform Partnership Act § 56a-702. Dissociated partner's power to bind and liability to partnership - last updated January 01, 2023 | https://codes.findlaw.com/ks/chapter-56a-kansas-uniform-partnership-act/ks-st-sect-56a-702/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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