Kansas § 56a-603 Effect of partner's dissociation

Kansas Statutes

§ 56a-603 — Effect of partner's dissociation

Kansas·Ch. 56a KANSAS UNIFORM PARTNERSHIP ACT·Art. 6 PARTNER'S DISSOCIATION

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

(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 K.S.A. 56a-803;

(2)the partner's duty of loyalty under subsection (b)(3) of K.S.A. 56a-404 terminates; and

(3)the partner's duty of loyalty under subsection (b)(1) and (2) of K.S.A. 56a-404 and duty of care under subsection (c) of K.S.A. 56a-404 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 K.S.A. 56a-803.

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(a) If a partner's dissociation results in a dissolution and winding up of the partnership business, article 8 applies; otherwise, article 7 applies.
(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 K.S.A. 56a-803;
(2) the partner's duty of loyalty under subsection (b)(3) of K.S.A. 56a-404 terminates; and
(3) the partner's duty of loyalty under subsection (b)(1) and (2) of K.S.A. 56a-404 and duty of care under subsection (c) of K.S.A. 56a-404 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 K.S.A. 56a-803.

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