District of Columbia § 29-706.02 Effect of dissociation as limited partner.

District of Columbia Statutes

§ 29-706.02 — Effect of dissociation as limited partner.

District of Columbia § 29-706.02

Title 29Business Organizations. [Enacted title]

Ch. 7Limited Partnerships.

Subch. VIDissociation.

This text of District of Columbia § 29-706.02 (Effect of dissociation as limited partner.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 29-706.02 (2026).

Text

(a)Upon a person’s dissociation as a limited partner:

(1)Subject to § 29-707.04 , the person shall not have further rights as a limited partner;

(2)The person’s obligation of good faith and fair dealing as a limited partner under § 29-703.05(b) shall continue only as to matters arising and events occurring before the dissociation; and

(3)Subject to § 29-707.04 and subchapter X of this chapter , any transferable interest owned by the person in the person’s capacity as a limited partner immediately before dissociation shall be owned by the person as a mere transferee.

(b)A person’s dissociation as a limited partner does not itself discharge the person from any debt, liability, or other obligation to the limited partnership or the other partners which the person incurred while

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(a) Upon a person’s dissociation as a limited partner:

(1) Subject to § 29-707.04 , the person shall not have further rights as a limited partner;

(2) The person’s obligation of good faith and fair dealing as a limited partner under § 29-703.05(b) shall continue only as to matters arising and events occurring before the dissociation; and

(3) Subject to § 29-707.04 and subchapter X of this chapter , any transferable interest owned by the person in the person’s capacity as a limited partner immediately before dissociation shall be owned by the person as a mere transferee.

(b) A person’s dissociation as a limited partner does not itself discharge the person from any debt, liability, or other obligation to the limited partnership or the other partners which the person incurred while a limited partner.