Corporations, Associations, and Partnerships


SECTION 7-12-44

§ 7-12-44. General effect of dissolution on authority of partner.

Except insofar as is necessary to wind up partnership affairs or to complete transactions begun but not then finished, dissolution terminates all authority of any partner to act for the partnership,

(1) Regarding the partners;

(i) When the dissolution is not by the act, bankruptcy, or death of a partner; or

(ii) When the dissolution is by the act, bankruptcy, or death of a partner, in cases where § 7-12-45 so requires.

(2) With respect to persons not partners, as declared in § 7-12-46.

History of Section.
(R.P.L. 1957, ch. 74, § 33.)