NRS 87A.440 Effect of withdrawal as limited partner.
141 words·~1 min read·
/nv/chapter-87a-uniform-limited-partnership-act-2001/87a-440·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
NRS 87A.440 Effect of withdrawal as limited partner.
1. Upon a person’s withdrawal as a limited partner:
(a)Subject to NRS 87A.485 , the person does not have further rights as a limited partner;
(b)The person’s obligation of good faith and fair dealing as a limited partner under subsection 2 of NRS 87A.340 continues only as to matters arising and events occurring before the withdrawal; and
(c)Subject to NRS 87A.485 and the provisions of chapter 92A of NRS, any transferable interest owned by the person in the person’s capacity as a limited partner immediately before withdrawal is owned by the person as a mere transferee.
2. A person’s withdrawal 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.