Arizona § 29-1053 Effect of partner's dissociation

Arizona Statutes

§ 29-1053 — Effect of partner's dissociation

Arizona § 29-1053

Title 29Arizona Revised Statutes

Ch. 5REVISED UNIFORM PARTNERSHIP ACT

Art. 6Partner's Dissociation

This text of Arizona § 29-1053 (Effect of partner's dissociation) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 29-1053 (2026).

Text

A.If a partner's dissociation results in a dissolution and winding up of the partnership business, article 8 of this chapter applies. Otherwise, article 7 of this chapter applies.

B.On a partner's dissociation:

1.The partner's right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in section 29-1073.

2.The partner's duty of loyalty under section 29-1034, subsection B, paragraph 3 terminates.

3.The partner's duty of loyalty under section 29-1034, subsection B, paragraphs 1 and 2 and duty of care under section 29-1034, subsection C continue only with regard to matters arising and events occurring before the partner's dissociation, unless the partner participates in winding up the partnership's business pursuant to sect

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A. If a partner's dissociation results in a dissolution and winding up of the partnership business, article 8 of this chapter applies. Otherwise, article 7 of this chapter applies.

B. On a partner's dissociation:

1. The partner's right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in section 29-1073.

2. The partner's duty of loyalty under section 29-1034, subsection B, paragraph 3 terminates.

3. The partner's duty of loyalty under section 29-1034, subsection B, paragraphs 1 and 2 and duty of care under section 29-1034, subsection C continue only with regard to matters arising and events occurring before the partner's dissociation, unless the partner participates in winding up the partnership's business pursuant to section 29-1073 in which event those duties continue as to all matters arising and events occurring during the winding up.