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Home » US Law » 2022 Arizona Revised Statutes » Title 29 - Partnership » Article 7 - Partner's Dissociation When Business Not Wound Up

§ 29-1061 – Purchase of dissociated partner’s interest

29-1061. Purchase of dissociated partner’s interest A. If a partner is dissociated from a partnership without resulting in a dissolution and winding up of the partnership business under section 29-1071, the partnership shall cause the dissociated partner’s interest, if any, in the partnership to be purchased for a buyout price determined pursuant to subsection B […]

§ 29-1062 – Dissociated partner’s power to bind and liability to partnership

29-1062. Dissociated partner’s power to bind and liability to partnership A. For two years after a partner dissociates without resulting in a dissolution and winding up of the partnership business, the partnership, including a surviving partnership under article 9 of this chapter, is bound by an act of the dissociated partner that would have bound […]

§ 29-1063 – Dissociated partner’s liability to other persons

29-1063. Dissociated partner’s liability to other persons A. A partner’s dissociation does not of itself discharge the partner’s liability for a partnership obligation incurred before dissociation. A dissociated partner is not liable for a partnership obligation incurred after dissociation, except as otherwise provided in subsection B of this section. B. A partner who dissociates without […]

§ 29-1064 – Statement of dissociation

29-1064. Statement of dissociation A. A dissociated partner or the partnership may file a statement of dissociation stating the name of the partnership and that the partner is dissociated from the partnership. B. A statement of dissociation is a limitation on the authority of a dissociated partner for the purposes of section 29-1023, subsections D […]

§ 29-1065 – Continued use of partnership name

29-1065. Continued use of partnership name Continued use of a partnership name, or a dissociated partner’s name as part of a partnership name, by partners continuing the business does not of itself make the dissociated partner liable for an obligation of the partners or the partnership continuing the business.