Maine § 31 §1374 Person's power to dissociate as general partner; wrongful dissociation

Maine Statutes

§ 31 §1374 — Person's power to dissociate as general partner; wrongful dissociation

Maine § 31 §1374

Title 31PARTNERSHIPS AND ASSOCIATIONS

Ch. 19UNIFORM LIMITED PARTNERSHIP ACT

This text of Maine § 31 §1374 (Person's power to dissociate as general partner; wrongful dissociation) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 31, § 31 §1374 (2026).

Text

1.Dissociate by express will. A person has the power to dissociate as a general partner at any time, rightfully or wrongfully, by express will pursuant to section 1373, subsection 1.

2.Wrongful dissociation. A person's dissociation as a general partner is wrongful only if:

3.Liability when dissociation wrongful. A person that wrongfully dissociates as a general partner is liable to the limited partnership and, subject to section 1421, to the other partners for damages caused by the dissociation. The liability is in addition to any other obligation of the general partner to the limited partnership or to the other partners.

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1.
Dissociate by express will.
A person has the power to dissociate as a general partner at any time, rightfully or wrongfully, by express will pursuant to section 1373, subsection 1.
2.
Wrongful dissociation.
A person's dissociation as a general partner is wrongful only if:
3.
Liability when dissociation wrongful.
A person that wrongfully dissociates as a general partner is liable to the limited partnership and, subject to section 1421, to the other partners for damages caused by the dissociation. The liability is in addition to any other obligation of the general partner to the limited partnership or to the other partners.