SECTION 620.1604. Person’s power to dissociate as general partner; wrongful dissociation.
Latest version.
1(1) 2A person has the power to dissociate as a general partner at any time, rightfully or wrongfully, by express will pursuant to s. 25620.1603(1)26. 27(2) 28A person’s dissociation as a general partner is wrongful only if:39(a) 40It is in breach of an express provision of the partnership agreement; or
53(b) 54It occurs before the termination of the limited partnership, and:641. 65The person withdraws as a general partner by express will;
752. 76The person is expelled as a general partner by judicial determination under s. 89620.1603(5); 903. 91The person is dissociated as a general partner by becoming a debtor in bankruptcy; or
1064. 107In the case of a person that is not an individual, trust other than a business trust, or estate, the person is expelled or otherwise dissociated as a general partner because it willfully dissolved or terminated.
143(3) 144A person that wrongfully dissociates as a general partner is liable to the limited partnership and, subject to s. 163620.2001, 164to the other partners for damages caused by the dissociation. The liability is in addition to any other obligation of the general partner to the limited partnership or to the other partners.
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