§ 16603
82 words·~1 min read·
/ca/corporations-code/16603A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Upon a partner’s dissociation, all of the following apply:
(1)The partner’s right to participate in the management and conduct of the partnership business terminates.
(2)The partner’s duty of loyalty under paragraph
(3)of subdivision
(b)of Section 16404 terminates.
(3)The partner’s duty of loyalty under paragraphs
(1)and
(2)of subdivision
(b)of Section 16404 and duty of care under subdivision
(c)of Section 16404 continue only with regard to matters arising and events occurring before the partner’s dissociation.