§ 9A-603. Effect of partner's dissociation

   (a) Laws applicable. -- If a partner's dissociation results in a dissolution and winding up of the partnership business, Subtitle 8 of this title applies; otherwise, Subtitle 7 of this title applies.

(b) Rights and duties. -- 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 § 9A-803 of this title;

   (2) The partner's duty of loyalty under § 9A-404(b)(3) of this title terminates; and

   (3) The partner's duty of loyalty under § 9A-404(b)(1) and (2) of this title and duty of care under § 9A-404(c) of this title 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 § 9A-803 of this title.

HISTORY: 1997, ch. 654, § 2; 1998, ch. 743, § 1, 3; 2007, ch. 5, § 7.