Montana Code 35-10-622. Statement of dissociation — filing
35-10-622. Statement of dissociation — filing. (1) A dissociated partner or the partnership may file a statement of dissociation stating the name of the partnership and that the partner is dissociated from the partnership.
Terms Used In Montana Code 35-10-622
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
(2)If a statement of dissociation is filed, the statement must be filed with the same entity with which the original partnership agreement was filed.
(3)A statement of dissociation is a limitation on the authority of a dissociated partner for the purposes of 35-10-310(4) and (5).
(4)For the purposes of 35-10-301, 35-10-620, and 35-10-621(2), a person who is not a partner is considered to have notice of the dissociation 90 days after the statement of dissociation is filed.