Arkansas Statutes
§ 4-47-602 — Effect of dissociation as limited partner
Arkansas·Title 4
(a)Upon a person's dissociation as a limited partner:
(1)subject to § 4-47-704 , 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 § 4-47-305(b) continues only as to matters arising and events occurring before the dissociation; and (3) subject to § 4-47-704 and subchapter 11, 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.
Free access — add to your briefcase to read the full text and ask questions with AI
Arkansas § 4-47-602 (Effect of dissociation as limited partner) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 2007, No. 15, § 1.
Nearby Sections
15
§ 4-1-101
Short titles§ 4-1-102
Scope of subtitle§ 4-1-104
Construction against implicit repeal§ 4-1-105
Severability§ 4-1-106
Use of singular and plural - Gender§ 4-1-107
Section captions§ 4-1-201
General definitions§ 4-1-202
Notice - Knowledge§ 4-1-204
Value§ 4-1-205
Reasonable time - Seasonableness§ 4-1-206
Presumptions