Nevada § 87A.505 - Power of general partner and person withdrawn as general partner to bind partnership after dissolution
Full text of Nevada Nevada Revised Statutes § 87A.505 — Power of general partner and person withdrawn as general partner to bind partnership after dissolution, with citation guidance and answers to common questions.
§ 87A.505. Power of general partner and person withdrawn as general partner to bind partnership after dissolution
1. A limited partnership is bound by a general partner's act after dissolution which: (a) Is appropriate for winding up the limited partnership's activities; or (b) Would have bound the limited partnership under NRS 87A.355 before dissolution, if, at the time the other party enters into the transaction,
the other party does not have notice of the dissolution. 2. A person withdrawn as a general partner binds a limited partnership through an
act occurring after dissolution if: (a) At the time the other party enters into the transaction: (1) Less than 2 years has passed since the withdrawal; and (2) The other party does not have notice of the withdrawal and reasonably believes
that the person is a general partner; and (b) The act: (1) Is appropriate for winding up the limited partnership's activities; or (2) Would have bound the limited partnership under NRS 87A.355 before dissolution and at the time the other party enters into the transaction the
other party does not have notice of the dissolution.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 87A.505
What does Nevada Revised Statutes § 87A.505 cover?
Section 87A.505 ("Power of general partner and person withdrawn as general partner to bind partnership after dissolution") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. 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 Nevada § 87A.505?
A common citation format is "Nevada Revised Statutes § 87A.505" (Nevada). 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 Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 87A.505 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada 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 Nevada.