Cal. Corporations Code § 15908.05
Cal. Corporations Code § 15908.05
California · California Corporations Code · Status: effective · Effective 2007-01-01
Cite this
- Citation
- Cal. Corporations Code § 15908.05, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/792813
- Permanent ID
ys:prov:792813@1- SHA-256
783c42e1b3e1c03fd08e4e90adcc93f42fc702742b58d69e44c1ba5c3d9c60df
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) If a general partner having knowledge of the dissolution causes a limited partnership to incur an obligation under subdivision (a) of Section 15908.04 by an act that is not appropriate for winding up the partnership’s activities, the general partner is liable:
(1) to the limited partnership for any damage caused to the limited partnership arising from the obligation; and
(2) if another general partner or a person dissociated as a general partner is liable for the obligation, to that other general partner or person for any damage caused to that other general partner or person arising from the liability.
(b) If a person dissociated as a general partner causes a limited partnership to incur an obligation under subdivision (b) of Section 15908.04, the person is liable:
(1) to the limited partnership for any damage caused to the limited partnership arising from the obligation; and
(2) if a general partner or another person dissociated as a general partner is liable for the obligation, to the general partner or other person for any damage caused to the general partner or other person arising from the liability.