48-1d-701. Events causing dissociation. A person is dissociated as a partner when: (1) the partnership has notice of the person’s express will to withdraw as a partner, but, if the person specified a withdrawal date later than the date the partnership had notice, on that later date; (2) an event stated in the partnership agreement […]
48-1d-702. Power to dissociate as partner — Wrongful dissociation. (1) A person has the power to dissociate as a partner at any time, rightfully or wrongfully, by withdrawing as a partner by express will under Subsection 48-1d-701(1). (2) A person’s dissociation as a partner is wrongful only if the dissociation: (a) is in breach of […]
48-1d-703. Effect of dissociation. (1) If a person’s dissociation results in a dissolution and winding up of the partnership’s activities and affairs, Part 9, Dissolution and Winding Up, applies, otherwise, Part 8, Partner’s Dissociation When Business Not Wound Up, applies. (2) If a person is dissociated as a partner: (a) the person’s right to participate […]
