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AB-1436 Uniform Partnership Act of 1994: partnership statements.(2023-2024)



Current Version: 02/17/23 - Introduced

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AB1436:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2023–2024 REGULAR SESSION

Assembly Bill
No. 1436

Introduced by Assembly Member Chen

February 17, 2023

An act to amend Section 16304 of the Corporations Code, relating to partnerships.


LEGISLATIVE COUNSEL'S DIGEST


AB 1436, as introduced, Chen. Uniform Partnership Act of 1994: partnership statements.
Existing law, the Uniform Partnership Act of 1994, authorizes a partner or other person named as a partner in a filed statement of partnership authority or in a list maintained by an agent to file a statement of denial stating the name of the partnership as filed with the Secretary of State, any identification number issued by the Secretary of State, and the fact that it is being denied, that may include denial of a person’s authority or status as a partner. Existing law provides that a statement of denial is a limitation on partnership authority. Existing law also permits a partner to become dissociated from a partnership and permits the filing of a statement of dissociation, as specified.
This bill would specify that a statement of denial is not the same as a statement of dissociation.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 16304 of the Corporations Code is amended to read:

16304.
 A partner or other person named as a partner in a filed statement of partnership authority or in a list maintained by an agent pursuant to subdivision (b) of Section 16303 may file a statement of denial stating the name of the partnership as filed with the Secretary of State, any identification number issued by the Secretary of State, and the fact that is being denied, that may include denial of a person’s authority or status as a partner. A statement of denial is a limitation on authority as provided in subdivisions (d) and (e) of Section 16303. 16303 and is not the same as a statement of dissociation, as described in Section 16704.