California Corporations Code

§ 16111

CORP § 16111 Effective Jan 1, 1997Title 2 · Ch. 5 · Art. 1

Statute text

(a)Except as provided in Section 16955.5, before January 1, 1999, this chapter governs only a partnership formed (1) on or after the effective date of this chapter, unless that partnership is continuing the business of a dissolved partnership under Section 15041, or (2) before the effective date of this chapter if that partnership elects, in the manner provided in its partnership agreement or by law for amending the partnership agreement, to be governed by this chapter.

(b)On and after January 1, 1999, this chapter governs all partnerships.

(c)Except with respect to the provisions of this chapter specifically relating to registered limited liability partnerships and foreign limited liability partnerships, the provisions of this chapter relating to the liability of the partnership’s partners to third parties apply to limit those partners’ liability to a third party who had done business with the partnership within one year preceding the partnership’s election to be governed by this chapter, only if the third party knows or has received a notification of the partnership’s election to be governed by this chapter.

Legislative history

Added by Stats. 1996, Ch. 1003, Sec. 2. Effective January 1, 1997.