Del. Code tit. 6 § 15-603

Current through 2024 Legislative Session Act Chapter 258
Section 15-603 - Effect of partner's dissociation
(a) If a partner's dissociation results in a dissolution and winding up of the partnership business, Subchapter VIII applies; otherwise, Subchapter VII applies.
(b) 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 Section 15-803;
(2) the partner's duty of loyalty under Section 15-404(b)(3) terminates; and
(3) the partner's duty of loyalty under Section 15-404(b)(1) and (2) and duty of care under Section 15-404(c) 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 Section 15-803.

6 Del. C. § 15-603

72 Del. Laws, c. 151, § 1.;