Connecticut § 34-357 Effect of partner's dissociation.

Connecticut Statutes

§ 34-357 — Effect of partner's dissociation.

Connecticut·Title 34 Limited Partnerships, Partnerships, Professional Associations, Limited Liability Companies and Statutory Trusts·Ch. 614 Uniform Partnership Act. Limited Liability Partnerships

(a)If a partner's dissociation results in a dissolution and winding up of the partnership business, sections 34-372 to 34-378, inclusive, apply; otherwise, sections 34-362 to 34-366, inclusive, apply.

(b)Upon 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 34-374 ;

(2)The partner's duty of loyalty under subdivision (3) of subsection (b) of section 34-338 terminates; and (3) The partner's duty of loyalty under subdivisions (1) and (2) of subsection (b) of section 34-338 and duty of care under subsection (c) of said section 34-338 continue only with regard to matters arising and events occurring before the partner's dissociation, unless the partner participates in

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(a) If a partner's dissociation results in a dissolution and winding up of the partnership business, sections 34-372 to 34-378, inclusive, apply; otherwise, sections 34-362 to 34-366, inclusive, apply. (b) Upon 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 34-374 ; (2) The partner's duty of loyalty under subdivision (3) of subsection (b) of section 34-338 terminates; and (3) The partner's duty of loyalty under subdivisions (1) and (2) of subsection (b) of section 34-338 and duty of care under subsection (c) of said section 34-338 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 34-374 .

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