California Corporations Code

§ 16806

CORP § 16806 Effective Jan 1, 1997Title 2 · Ch. 5 · Art. 8

Statute text

(a)Except as otherwise provided in subdivision (b) and except for registered limited liability partnerships and foreign limited liability partnerships, after dissolution a partner is liable to the other partners for the partner’s share of any partnership liability incurred under Section 16804.

(b)Except for registered limited liability partnerships and foreign limited liability partnerships, a partner who, with knowledge of the dissolution, incurs a partnership liability under paragraph (2) of Section 16804 by an act that is not appropriate for winding up the partnership business is liable to the partnership for any damage caused to the partnership arising from the liability.

Legislative history

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