New Jersey § 42:1a-36

§ 42:1a-36.

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 resulting in a dissolution and winding up of

the partnership business is liable as a partner to the other party in a transaction

entered into by the partnership, or a surviving partnership under Article 9 of this

act, 1 within two years after the partner's dissociation, only if the partner is liable

for the obligation under section 18 of this act 2 and at the time of entering into the transaction the other party: (1) reasonably believed that the dissociated partner was then a partner; (2) did not have notice of the partner's dissociation; and (3) is not deemed to have had knowledge under subsection e. of section 15 3 or notice under section subsection c. of section 37 of this act. 4 c. By agreement with the partnership creditor and the partners continuing the business,

a dissociated partner may be released from liability for a partnership obligation. d. A dissociated partner is released from liability for a partnership obligation if

a partnership creditor, with notice of the partner's dissociation but without the

partner's consent, agrees to a material alteration in the nature or time of payment

of a partnership obligation. 1

N.J.S.A. § 42:1A-46 et seq. 2

N.J.S.A. § 42:1A-18. 3

N.J.S.A. § 42:1A-15. 4

N.J.S.A. § 42:1A-37.