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.
History: 1997 c 174 art 6 s 32