Maine § 1395. - Liability after dissolution of general partner and person dissociated as general partner to limited partnership, other general partners and persons dissociated as general partner
Full text of Maine Maine Revised Statutes § 1395. — Liability after dissolution of general partner and person dissociated as general partner to limited partnership, other general partners and persons dissociated as general partner, with citation guidance and answers to common questions.
§ 1395.. Liability after dissolution of general partner and person dissociated as general partner to limited partnership, other general partners and persons dissociated as general partner
1. General partner liable for inappropriate act after dissolution. If a general partner having knowledge of the dissolution causes a limited partnership to incur an obligation under section 1394, subsection 1 by an act that is not appropriate for winding up the partnership's activities, the general partner is liable:
A. To the limited partnership for any damage caused to the limited partnership arising from the obligation; and [PL 2005, c. 543, Pt. C, §2 (NEW).]
B. 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. [PL 2005, c. 543, Pt. C, §2 (NEW).]
2. Dissociated general partner liable for incurring obligation. If a person dissociated as a general partner causes a limited partnership to incur an obligation under section 1394, subsection 2, the person is liable:
A. To the limited partnership for any damage caused to the limited partnership arising from the obligation; 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 § 1395.
What does Maine Revised Statutes § 1395. cover?
Section 1395. ("Liability after dissolution of general partner and person dissociated as general partner to limited partnership, other general partners and persons 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 § 1395.?
A common citation format is "Maine Revised Statutes § 1395." (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 § 1395. 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.