EFFECT OF DISSOCIATION AS LIMITED PARTNER.
(a) Upon a person’s dissociation as a limited partner:
(1) subject to Section 62 of this act, the person does not have further rights as a limited partner;
(2) the person’s obligation of good faith and fair dealing as a limited partner under subsection (b) of Section 33 of this act continues only as to matters arising and events occurring before the dissociation; and
(3) subject to Section 62 of this act and Article 11 of this act, any transferable interest owned by the person in the person’s capacity as a limited partner immediately before dissociation is owned by the person as a mere transferee.
(b) A person’s dissociation as a limited partner does not of itself discharge the person from any obligation to the limited partnership or the other partners which the person incurred while a limited partner.
Added by Laws 2010, c. 384, § 53, eff. Jan. 1, 2011.
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