Effect of partner's dissociation

  1. Law
  2. Mississippi Code
  3. Corporations, Associations, and Partnerships
  4. Uniform Partnership Act (1997)
  5. Partner's Dissociation
  6. Effect of partner's dissociation

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

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 79-13-803;
  2. The partner's duty of loyalty under Section 79-13-404(b) (3) terminates; and
  3. The partner's duty of loyalty under Section 79-13-404(b) (1) and (2) and duty of care under Section 79-13-404(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 79-13-803.


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