Where the dissolution is caused by the act, death, or bankruptcy of a partner, each partner is liable to that partner's copartners for that partner's share of any liability created by any partner acting for the partnership as if the partnership had not been dissolved unless any of the following apply:
1. The dissolution being by act of any partner, the partner acting for the partnership had knowledge of the dissolution.
2. The dissolution being by the death or bankruptcy of a partner, the partner acting for the partnership had knowledge or notice of the death or bankruptcy.
3. The liability created is for a debt, obligation, or liability for which the partner is not liable pursuant to section 486.15.
[C73, 75, 77, 79, 81, § 544.34]
C93, § 486.34
94 Acts, ch 1049, §5
Referred to in § 486.33
Previous Section 486.33
Next Section 486.35
© 1999 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Thu Mar 18 15:00:31 CST 1999
URL: /DOCS/IACODE/1999/486/34.html
jhf