§ 7-13.1-602. Effect of dissociation as limited partner.
(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 § 7-13.1-305(a) ends with regard to matters arising and events occurring after the person’s dissociation; and
(3) Subject to § 7-13.1-704 and part 11 of this chapter, any transferable interest owned by the person in the person’s capacity as a limited partner immediately before dissociation is owned by the person solely as a transferee.
(b) A person’s dissociation as a limited partner does not of itself discharge the person from any debt, obligation, or other liability to the limited partnership or the other partners which the person incurred while a limited partner.
History of Section.
P.L. 2022, ch. 121, § 2, effective January 1, 2023; P.L. 2022, ch. 122, § 2, effective
January 1, 2023.