§ 7-13.1-601. Dissociation as limited partner. [Effective January 1, 2023.] (a) A person does not have a right to dissociate as a limited partner before the completion of the winding up of the limited partnership. (b) A person is dissociated as a limited partner when: (1) The limited partnership knows or has notice of the […]
§ 7-13.1-602. Effect of dissociation as limited partner. [Effective January 1, 2023.] (a) If a person is dissociated as a limited partner: (1) Subject to § 7-13.1-704, the person does not have further rights as a limited partner; (2) The person’s contractual obligation of good faith and fair dealing as a limited partner under § […]
§ 7-13.1-603. Dissociation as general partner. [Effective January 1, 2023.] A person is dissociated as a general partner when: (1) The limited partnership knows or has notice of the person’s express will to withdraw as a general partner, but, if the person has specified a withdrawal date later than the date the partnership knew or […]
§ 7-13.1-604. Power to dissociate as general partner — Wrongful dissociation. [Effective January 1, 2023.] (a) A person has the power to dissociate as a general partner at any time, rightfully or wrongfully, by withdrawing as a general partner by express will under § 7-13.1-603(1). (b) A person’s dissociation as a general partner is wrongful […]
§ 7-13.1-605. Effect of dissociation as general partner. [Effective January 1, 2023.] (a) If a person is dissociated as a general partner: (1) The person’s right to participate as a general partner in the management and conduct of the limited partnership’s activities and affairs terminates; (2) The person’s duties and obligations as a general partner […]
§ 7-13.1-606. Power to bind and liability of person dissociated as general partner. [Effective January 1, 2023.] (a) After a person is dissociated as a general partner and before the limited partnership is merged out of existence, converted, or domesticated under part 11 of this chapter, or dissolved, the partnership is bound by an act […]
§ 7-13.1-607. Liability of person dissociated as general partner to other persons. [Effective January 1, 2023.] (a) A person’s dissociation as a general partner does not of itself discharge the person’s liability as a general partner for a debt, obligation, or other liability of the limited partnership incurred before dissociation. Except as otherwise provided in […]
