[§425E-602] Effect of dissociation as a limited partner.
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[§425E-602] Effect of dissociation as a limited partner.
(a)Upon a person's dissociation as a limited partner:
(1)Subject to section 425E-704, the person shall not have further rights as a limited partner;
(2)The person's obligation of good faith and fair dealing as a limited partner under section 425E-305(b) continues only as to matters arising and events occurring before the dissociation; and
(3)Subject to section 425E-704 and article 11, any transferable interest owned by the person in the person's capacity as a limited partner immediately before dissociation shall be owned by the person as a mere transferee.
(b)A person's dissociation as a limited partner shall 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. [L 2003, c 210, pt of §1]