2004 Minnesota Statutes

     323A.0603 Effect of partner's dissociation. 

    (a) If a partner's dissociation results in a dissolution 
 and winding up of the partnership business, article 8 applies; 
 otherwise, article 7 applies.  

    (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 
 otherwise provided in section 323A.0803; 

    (2) the partner's duty of loyalty under section 
 323A.0404(b)(3) terminates; and 

    (3) the partner's duty of loyalty under section 
 323A.0404(b)(1) and (2) and duty of care under section 
 323A.0404(c) continue only with regard to matters arising and 
 events occurring before the partner's dissociation, unless the 
 partner participates in winding up the partnership's business 
 pursuant to section 323A.0803. 

    HIST: 1997 c 174 art 6 s 32