(a) Subject to subsection (b), upon reinstatement, the partnership shall be deemed for all purposes to have continued its business or not for profit activity as if dissolution had never occurred; and each right inuring to, and each debt, obligation, and liability incurred by, the partnership after the dissolution shall be determined as if the dissolution had never occurred.
(b) The rights of persons acting in reliance on the dissolution before those persons had notice of the reinstatement shall not be adversely affected by the reinstatement.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 8A - Alabama Partnership Law
Article 8 - Dissolution and Winding Up.
Section 10A-8A-8.01 - Events of Dissolution.
Section 10A-8A-8.02 - Effect of Dissolution.
Section 10A-8A-8.03 - Right to Wind Up Business or Not for Profit Activity.
Section 10A-8A-8.04 - Power to Bind Partnership After Dissolution.
Section 10A-8A-8.06 - Known Claims Against Dissolved Partnership.
Section 10A-8A-8.07 - Other Claims Against Dissolved Partnership.
Section 10A-8A-8.09 - Disposition of Assets, When Contributions Required.
Section 10A-8A-8.10 - Reinstatement After Dissolution.
Section 10A-8A-8.11 - Certificate of Reinstatement.