§425-130 Events causing partner’s dissociation. A partner is dissociated from a partnership upon the occurrence of any of the following events: (1) The partnership’s receipt of notice of the partner’s express will to withdraw as a partner or on a later date specified by the partner; (2) An event agreed to in the partnership agreement […]
§425-131 Partner’s power to dissociate; wrongful dissociation. (a) A partner has the power to dissociate at any time, rightfully or wrongfully, by express will pursuant to section 425-130(1). (b) A partner’s dissociation is wrongful only if: (1) It is in breach of an express provision of the partnership agreement; or (2) In the case of […]
§425-132 Effect of partner’s dissociation. (a) If a partner’s dissociation results in a dissolution and winding up of the partnership business, sections 425-138 to 425-144 apply; otherwise, sections 425-133 to 425-137 apply. (b) Upon a partner’s dissociation: (1) The partner’s right to participate in the management and conduct of the partnership business terminates, except as […]
