South Dakota § 48-7A-702 - Dissociated partner's power to bind and liability to partnership.
Full text of South Dakota South Dakota Codified Laws § 48-7A-702 — Dissociated partner's power to bind and liability to partnership., with citation guidance and answers to common questions.
§ 48-7A-702. Dissociated partner's power to bind and liability to partnership.
(a) For two years after a partner dissociates without resulting in a dissolution and winding up of the partnership business, the partnership, including a surviving partnership under Article 9, is bound by an act of the dissociated partner which would have bound the partnership under § 48-7A-301 before dissociation only if 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 48-7A-303(e) or notice under subsection 48-7A-704(c).
(b) A dissociated partner is liable to the partnership for any damage caused to the partnership arising from an obligation incurred by the dissociated partner after dissociation for which the partnership is liable under subsection (a).
Source: SL 2001, ch 249, § 702.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 48-7A-702
What does South Dakota Codified Laws § 48-7A-702 cover?
Section 48-7A-702 ("Dissociated partner's power to bind and liability to partnership.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. 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 South Dakota § 48-7A-702?
A common citation format is "South Dakota Codified Laws § 48-7A-702" (South Dakota). 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 South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 48-7A-702 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota 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 South Dakota.