Maine § 31 §1061 Events causing partner's dissociation

Maine Statutes

§ 31 §1061 — Events causing partner's dissociation

Maine·Title 31 PARTNERSHIPS AND ASSOCIATIONS·Ch. 17 UNIFORM PARTNERSHIP ACT

A partner is dissociated from a partnership upon the occurrence of any of the following events:

1.Notice of express will to withdraw. The partnership's having notice of the partner's express will to withdraw as a partner or on a later date specified by the partner;

2.Agreed event. An event agreed to in the partnership agreement as causing the partner's dissociation;

3.Expulsion pursuant to agreement. The partner's expulsion pursuant to the partnership agreement;

4.Expulsion by unanimous vote. The partner's expulsion by the unanimous vote of the other partners if:

5.Expulsion by judicial determination. On application by the partnership or another partner, the partner's expulsion by judicial determination because:

6.Partner's actions. The partner's:

7.Partner who is individual. In the

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A partner is dissociated from a partnership upon the occurrence of any of the following events:
1.
Notice of express will to withdraw.
The partnership's having notice of the partner's express will to withdraw as a partner or on a later date specified by the partner;
2.
Agreed event.
An event agreed to in the partnership agreement as causing the partner's dissociation;
3.
Expulsion pursuant to agreement.
The partner's expulsion pursuant to the partnership agreement;
4.
Expulsion by unanimous vote.
The partner's expulsion by the unanimous vote of the other partners if:
5.
Expulsion by judicial determination.
On application by the partnership or another partner, the partner's expulsion by judicial determination because:
6.
Partner's actions.
The partner's:
7.
Partner who is individual.
In the case of a partner who is an individual:
8.
Partner is trust or trustee.
In the case of a partner that is a trust or is acting as a partner by virtue of being a trustee of a trust, distribution of the trust's entire transferable interest in the partnership, but not merely by reason of the substitution of a successor trustee;
9.
Partner is estate or personal representative of estate.
In the case of a partner that is an estate or is acting as a partner by virtue of being a personal representative of an estate, distribution of the estate's entire transferable interest in the partnership, but not merely by reason of the substitution of a successor personal representative; or
10.
Termination.
Termination of a partner who is not an individual, partnership, limited liability company, corporation, trust or estate.