Ohio § 1776.56
Full text of Ohio Ohio Revised Code § 1776.56, with citation guidance and answers to common questions.
§ 1776.56.
(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 division (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 sections 1776.68 to 1776.79 of the Revised Code , within two years after the partner's dissociation, only if pursuant to section 1776.36 of the Revised Code the partner would have been liable for the obligation if the transaction had been
entered into while the person was a partner and, at the time of entering into the
transaction, all of the following were true: (1) The other party reasonably believed that the dissociated partner was then a partner
and reasonably relied on that belief in entering into the transaction. (2) The other party did not have notice of the partner's dissociation. (3) The other party is not deemed to have had knowledge under division (E) of section 1776.33 of the Revised Code or notice under division (C) of section 1776.57 of the Revised Code . (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.
Frequently Asked Questions About Ohio § 1776.56
What does Ohio Revised Code § 1776.56 cover?
Section 1776.56 is part of the Ohio Revised Code, the codified statutory law of Ohio. 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 Ohio § 1776.56?
A common citation format is "Ohio Revised Code § 1776.56" (Ohio). 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 Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1776.56 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio 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 Ohio.