Idaho Statutes

Idaho Statutes are updated to the web July 1 following the legislative session.

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TITLE 30
CORPORATIONS
CHAPTER 23
GENERAL PARTNERSHIPS
PART 8
DISSOLUTION AND WINDING UP
30-23-803.  RESCINDING DISSOLUTION. (a) A partnership may rescind its dissolution, unless a statement of termination applicable to the partnership is effective or the district court has entered an order under section 30-23-801(4) or (5), Idaho Code, dissolving the partnership.
(b)  Rescinding dissolution under this section requires:
(1)  The affirmative vote or consent of each partner;
(2)  If the partnership has delivered to the secretary of state for filing a statement of dissolution and:
(A)  The statement of dissolution has not become effective, delivery to the secretary of state for filing of a statement of withdrawal under section 30-21-204, Idaho Code, applicable to the statement of dissolution; or
(B)  If a statement of dissolution applicable to the partnership is effective, the delivery to the secretary of state for filing of a statement of recession stating the name of the partnership and that dissolution has been rescinded under this section.
(c)  If a partnership rescinds its dissolution:
(1)  The partnership resumes carrying on its business as if dissolution had never occurred;
(2)  Subject to paragraph (3) of this subsection, any liability incurred by the partnership after the dissolution and before the rescission is effective is determined as if dissolution had never occurred; and
(3)  The rights of a third party arising out of conduct in reliance on the dissolution before the third party knew or had notice of the rescission may not be adversely affected.

History:
[30-23-803, added 2015, ch. 243, sec. 30, p. 831; am. 2020, ch. 82, sec. 28, p. 200.]


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