SECTION 620.8603. Effect of partner’s dissociation.

Latest version.

1(1) 2If a partner’s dissociation results in a dissolution and winding up of the partnership business, ss. 18620.880119-20620.8807 21apply; otherwise, ss. 24620.870125-26620.8705 27apply.
28(2) 29Upon a partner’s dissociation:
33(a) 34The partner’s right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in s. 55620.8803;
56(b) 57The partner’s duty of loyalty under s. 64620.8404(2)(c) 65terminates; and
67(c) 68The partner’s duty of loyalty under s. 75620.8404(2)(a) 76and (b) and duty of care under s. 84620.8404(3) 85continue 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 s. 112620.8803113.

History.-s. 13, ch. 95-242.

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