Section 10-8A-805 Statement of dissolution. - Alabama Statutes

Section 10-8A-805

Statement of dissolution.

(a) After dissolution, a partner who has not wrongfully dissociated may file a statement of dissolution stating the name of the partnership and that the partnership has dissolved and is winding up its business.

(b) A statement of dissolution cancels a filed statement of partnership authority for the purposes of Section 10-8A-303(d) and is a limitation on authority for the purposes of Section 10-8A-303(e).

(c) For the purposes of Sections 10-8A-301 and 10-8A-804, a person not a partner is deemed to have notice of the dissolution and the limitation on the partners' authority as a result of the statement of dissolution 90 days after it is filed.

(d) After filing and, if appropriate, recording a statement of dissolution, a dissolved partnership may file and, if appropriate, record a statement of partnership authority which will operate with respect to a person not a partner as provided in Section 10-8A-303(d) and (e) in any transaction, whether or not the transaction is appropriate for winding up the partnership business.

(Acts 1996, No. 96-528, p. 685, §1.)