Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
321.0602 EFFECT OF DISSOCIATION AS LIMITED PARTNER.
(a) Upon a person's dissociation as a limited partner:
(1) subject to section 321.0704, the person does not have further rights as a limited partner;
(2) the person's obligation of good faith and fair dealing as a limited partner under section
321.0305(b) continues only as to matters arising and events occurring before the dissociation; and
(3) subject to section 321.0704 and article 11, any transferable interest owned by the person
in the person's capacity as a limited partner immediately before dissociation is owned by the
person as a mere transferee.
(b) A person's dissociation as a limited partner does not of itself discharge the person from
any obligation to the limited partnership or the other partners which the person incurred while a
limited partner.
History: 2004 c 199 art 6 s 53
(a) Upon a person's dissociation as a limited partner:
(1) subject to section 321.0704, the person does not have further rights as a limited partner;
(2) the person's obligation of good faith and fair dealing as a limited partner under section
321.0305(b) continues only as to matters arising and events occurring before the dissociation; and
(3) subject to section 321.0704 and article 11, any transferable interest owned by the person
in the person's capacity as a limited partner immediately before dissociation is owned by the
person as a mere transferee.
(b) A person's dissociation as a limited partner does not of itself discharge the person from
any obligation to the limited partnership or the other partners which the person incurred while a
limited partner.
History: 2004 c 199 art 6 s 53
Official Publication of the State of Minnesota
Revisor of Statutes