Maine Statutes
§ 31 §1374 — Person's power to dissociate as general partner; wrongful dissociation
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.
Free access — add to your briefcase to read the full text and ask questions with AI
Maine § 31 §1374 (Person's power to dissociate as general partner; wrongful dissociation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
PL 2005, c. 543, §C2 (NEW).
Nearby Sections
15
§ 31 §1301
Short title§ 31 §1302
Definitions§ 31 §1303
Knowledge and notice§ 31 §1304
Nature, purpose and duration of entity§ 31 §1305
Powers§ 31 §1306
Governing law§ 31 §1308
Limited partnership name; assumed name§ 31 §1311
Required information§ 31 §1313
Dual capacity§ 31 §1314
Registered office; registered agent