SECTION 620.8602. Partner’s power to dissociate; wrongful dissociation.
Latest version.
1(1) 2A partner has the power to dissociate at any time, rightfully or wrongfully, by express will pursuant to s. 21620.8601(1)22.
23(2) 24A partner’s dissociation is wrongful only if:
31(a) 32It is in breach of an express provision of the partnership agreement; or
45(b) 46In the case of a partnership for a definite term or particular undertaking, before the expiration of the term or the completion of the undertaking:
711. 72The partner withdraws by express will, unless the withdrawal follows within 90 days after another partner’s dissociation by death or otherwise under s. 95620.8601(6)96-(10) or wrongful dissociation under this subsection;
1032. 104The partner is expelled by judicial determination under s. 113620.8601(5);
1143. 115The partner is dissociated by becoming a debtor in bankruptcy; or
1264. 127In the case of a partner who is not an individual, trust other than a business trust, or estate, the partner is expelled or otherwise dissociated because the partner willfully dissolved or terminated.
160(3) 161A partner who wrongfully dissociates is liable to the partnership and to the other partners for damages caused by the dissociation. The liability is in addition to any other obligation of the partner to the partnership or to the other partners.
