2001 Minnesota Statutes

     323A.6-03 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 323A.8-03; 

    (2) the partner's duty of loyalty under section 
 323A.4-04(b)(3) terminates; and 

    (3) the partner's duty of loyalty under section 
 323A.4-04(b)(1) and (2) and duty of care under section 
 323A.4-04(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 323A.8-03. 

    HIST: 1997 c 174 art 6 s 32