§ 61-1-601. Events Causing Partner’s Dissociation
A partner is dissociated from a partnership upon the occurrence of any of the following events: The partnership’s having notice of the partner’s express will to withdraw as a partner or on a later date specified by the partner; An event agreed to in the partnership agreement as causing the partner’s dissociation; The partner’s expulsion […]
§ 61-1-602. Partner’s Power to Dissociate — Wrongful Dissociation
A partner has the power to dissociate at any time, rightfully or wrongfully, by express will pursuant to § 61-1-601(1). A partner’s dissociation is wrongful only if: It is in breach of an express provision of the partnership agreement; or In the case of a partnership for a definite term or particular undertaking, before the […]
§ 61-1-603. Effect of Partner’s Dissociation
If a partner’s dissociation results in a dissolution and winding up of the partnership business, part 8 of this chapter applies; otherwise, part 7 of this chapter applies. Upon a partner’s dissociation: The partner’s right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in § 61-1-803; The […]