Section 1063 - Effect of partner's dissociation1.Appreciation of law. If a partner's dissociation results in a dissolution and winding up of the partnership business, subchapter 8 applies; otherwise, subchapter 7 applies. [2005, c. 543, Pt. A, §2(NEW).]
2.Internal effects of partner's dissociation. Upon a partner's dissociation: A. The partner's right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in section 1083; [2005, c. 543, Pt. A, §2(NEW).]B. The partner's duty of loyalty under section 1044, subsection 2, paragraph C terminates; and [2005, c. 543, Pt. A, §2(NEW).]C. The partner's duty of loyalty under section 1044, subsection 2, paragraphs A and B and duty of care under section 1044, subsection 3 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 1083. [2005, c. 543, Pt. A, §2(NEW).] [2005, c. 543, Pt. A, §2(NEW).]
2005, c. 543, §A2 (NEW) .