§31B-7-703. Dissociated member's power to bind limited liability
company.
For two years after a member dissociates without the
dissociation resulting in a dissolution and winding up of a limited
liability company's business, the company, including a surviving
company under article nine of this chapter, is bound by an act of
the dissociated member which would have bound the company under
section 3-301 before dissociation only if at the time of entering
into the transaction the other party:
(1) Reasonably believed that the dissociated member was then
a member;
(2) Did not have notice of the member's dissociation; and
(3) Is not deemed to have had notice under section 7-704.