Maine § 1376. - Power to bind and liability to limited partnership before dissolution of partnership of person dissociated as general partner
Full text of Maine Maine Revised Statutes § 1376. — Power to bind and liability to limited partnership before dissolution of partnership of person dissociated as general partner, with citation guidance and answers to common questions.
§ 1376.. Power to bind and liability to limited partnership before dissolution of partnership of person dissociated as general partner
1. Bound by act of dissociated general partner. After a person is dissociated as a general partner and before the limited partnership is dissolved, converted under subchapter 11 or merged out of existence under subchapter 11, the limited partnership is bound by an act of the person only if:
A. The act would have bound the limited partnership under section 1352 before the dissociation; and [PL 2005, c. 543, Pt. C, §2 (NEW).]
B. At the time the other party enters into the transaction:
(2) The other party does not have notice of the dissociation and reasonably believes that the person is a general partner. [PL 2005, c. 543, Pt. C, §2 (NEW).]
2. Liability of dissociated general partner. If a limited partnership is bound under subsection 1, the person dissociated as a general partner that caused the limited partnership to be bound is liable:
A. To the limited partnership for any damage caused to the limited partnership arising from the obligation incurred under subsection 1; and [PL 2005, c. 543, Pt. C, §2 (NEW).]
B. If a general partner or another person dissociated as a general partner is liable for the obligation, to the general partner or other person for any damage caused to the general partner or other person arising from the liability. [PL 2005, c. 543, Pt. C, §2 (NEW).]
Source: official Maine text · Last verified 2026-08-27
Frequently Asked Questions About Maine § 1376.
What does Maine Revised Statutes § 1376. cover?
Section 1376. ("Power to bind and liability to limited partnership before dissolution of partnership of person dissociated as general partner") 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 § 1376.?
A common citation format is "Maine Revised Statutes § 1376." (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 § 1376. 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.