California Corporations Code

§ 15908.05

CORP § 15908.05 Effective Jan 1, 2007Title 2 · Ch. 4.5 · Art. 8

Statute text

(a)If a general partner having knowledge of the dissolution causes a limited partnership to incur an obligation under subdivision (a) of Section 15908.04 by an act that is not appropriate for winding up the partnership’s activities, the general partner is liable:

(1)to the limited partnership for any damage caused to the limited partnership arising from the obligation; and

(2)if another general partner or a person dissociated as a general partner is liable for the obligation, to that other general partner or person for any damage caused to that other general partner or person arising from the liability.

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Legislative history

Added by Stats. 2006, Ch. 495, Sec. 20. Effective January 1, 2007. Section operative January 1, 2008, pursuant to Section 15912.04.