Maine § 1072. - Dissociated partner's power to bind and liability to partnership
Full text of Maine Maine Revised Statutes § 1072. — Dissociated partner's power to bind and liability to partnership, with citation guidance and answers to common questions.
§ 1072.. Dissociated partner's power to bind and liability to partnership
1. Apparent authority of dissociated partner. For 2 years after a partner dissociates without resulting in a dissolution and winding up of the partnership business, the partnership, including a surviving partnership under subchapter 9, is bound by an act of the dissociated partner that would have bound the partnership under section 1031 before dissociation only if at the time of entering into the transaction the other party:
A. Reasonably believed that the dissociated partner was then a partner; [PL 2005, c. 543, Pt. A, §2 (NEW).]
B. Did not have notice of the partner's dissociation; and [PL 2005, c. 543, Pt. A, §2 (NEW).]
C. Is not deemed to have notice under section 1074, subsection 2. [PL 2005, c. 543, Pt. A, §2 (NEW).]
2. Liability for obligation after dissociation. A dissociated partner is liable to the partnership for any damage caused to the partnership arising from an obligation incurred by the dissociated partner after dissociation for which the partnership is liable under subsection 1.
Source: official Maine text · Last verified 2026-08-27
Frequently Asked Questions About Maine § 1072.
What does Maine Revised Statutes § 1072. cover?
Section 1072. ("Dissociated partner's power to bind and liability to partnership") is part of the Maine Revised Statutes, the codified statutory law of Maine. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maine § 1072.?
A common citation format is "Maine Revised Statutes § 1072." (Maine). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 1072. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maine.