SECTION 620.1602. Effect of dissociation as limited partner.

Latest version.

1(1) 2Upon a person’s dissociation as a limited partner:
10(a) 11Subject to s. 14620.1704, 15the person does not have further rights as a limited partner.
26(b) 27The person’s obligation of good faith and fair dealing as a limited partner under s. 42620.1305(2) 43continues only as to matters arising and events occurring before the dissociation and such person’s duties, if any, under s. 63620.1305(1) 64terminate or continue in the same manner as provided in s. 75620.1605(1)(b) 76and (c).
78(c) 79Subject to s. 82620.1704 83and ss. 85620.210186-87620.2125, 88any 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.
115(2) 116A 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.-s. 17, ch. 2005-267.

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