Miss. Code § 79-13-603

Current through 6/1/2024
Section 79-13-603 - Effect of partner's dissociation
(a) If a partner's dissociation results in a dissolution and winding up of the partnership business, Article 8 applies; otherwise, Article 7 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 79-13-803;
(2) The partner's duty of loyalty under Section 79-13-404(b) (3) terminates; and
(3) The partner's duty of loyalty under Section 79-13-404(b) (1) and (2) and duty of care under Section 79-13-404(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 79-13-803.

Miss. Code § 79-13-603

Laws, 2004, ch. 458, § 603, eff. 1/1/2005.