Colorado § 7-64-603 Effect of partner's dissociation

Colorado Statutes

§ 7-64-603 — Effect of partner's dissociation

Colorado·Title 07 Corporations·Art. Colorado Uniform Partnership Act (1997)

(1)If a partner's dissociation results in a dissolution and winding up of the partnership business, part 8 of this article applies; otherwise, part 7 of this article applies.

(2)Upon a partner's dissociation:

(a)The partner's right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in section 7-64-803;

(b)The partner's duties under section 7-64-404 (1)(c) terminate; and

(c)The partner's duties under section 7-64-404 (1)(a), (1)(b), and (2) 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 7-64-803.

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(1) If a partner's dissociation
results in a dissolution and winding up of the partnership business, part 8 of this
article applies; otherwise, part 7 of this article applies.

(2) Upon a partner's dissociation:

(a) The partner's right to participate in the management and conduct of the
partnership business terminates, except as otherwise provided in section 7-64-803;

(b) The partner's duties under section 7-64-404 (1)(c) terminate; and

(c) The partner's duties under section 7-64-404 (1)(a), (1)(b), and (2) 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 7-64-803.

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