Minnesota § 323A.0603 EFFECT OF PARTNER'S DISSOCIATION

Minnesota Statutes

§ 323A.0603 — EFFECT OF PARTNER'S DISSOCIATION

Minnesota § 323A.0603

PartBUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS

Ch. 323AUNIFORM PARTNERSHIP ACT OF 1994

This text of Minnesota § 323A.0603 (EFFECT OF PARTNER'S DISSOCIATION) 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. § 323A.0603 (2026).

Text

(a)If a partner's dissociation results in a dissolution and winding up of the partnership business, sections323A.0801to323A.0807apply; otherwise, sections323A.0701to323A.0705apply.

(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 section323A.0803;

(2)the partner's duty of loyalty under section 323A.0404(b)(3) terminates; and

(3)the partner's duty of loyalty under section 323A.0404(b)(1) and (2) and duty of care under section 323A.0404(c) 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 section323A.0803.

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(a) If a partner's dissociation results in a dissolution and winding up of the partnership business, sections323A.0801to323A.0807apply; otherwise, sections323A.0701to323A.0705apply.
(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 section323A.0803;
(2) the partner's duty of loyalty under section 323A.0404(b)(3) terminates; and
(3) the partner's duty of loyalty under section 323A.0404(b)(1) and (2) and duty of care under section 323A.0404(c) 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 section323A.0803.