Minnesota § 321.0602 EFFECT OF DISSOCIATION AS LIMITED PARTNER

Minnesota Statutes

§ 321.0602 — EFFECT OF DISSOCIATION AS LIMITED PARTNER

Minnesota § 321.0602

PartBUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS

Ch. 321UNIFORM LIMITED PARTNERSHIP ACT 2001

This text of Minnesota § 321.0602 (EFFECT OF DISSOCIATION AS LIMITED PARTNER) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 321.0602 (2026).

Text

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

(1)subject to section321.0704, the person does not have further rights as a limited partner;

(2)the person's obligation of good faith and fair dealing as a limited partner under section 321.0305(b) continues only as to matters arising and events occurring before the dissociation; and

(3)subject to section321.0704and article 11, any transferable interest owned by the person in the person's capacity as a limited partner immediately before dissociation is owned by the person as a mere transferee.

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

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(a) Upon a person's dissociation as a limited partner:
(1) subject to section321.0704, the person does not have further rights as a limited partner;
(2) the person's obligation of good faith and fair dealing as a limited partner under section 321.0305(b) continues only as to matters arising and events occurring before the dissociation; and
(3) subject to section321.0704and article 11, any transferable interest owned by the person in the person's capacity as a limited partner immediately before dissociation is owned by the person as a mere transferee.
(b) A person's dissociation as a limited partner does not of itself discharge the person from any obligation to the limited partnership or the other partners which the person incurred while a limited partner.