Montana § 35-12-1017 Effect Of Dissociation As Limited Partner

Montana Statutes

§ 35-12-1017 — Effect Of Dissociation As Limited Partner

Montana § 35-12-1017

Title 35CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

Ch. 12LIMITED PARTNERSHIPS

Part 10Distribution and Dissociation

This text of Montana § 35-12-1017 (Effect Of Dissociation As Limited Partner) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 35-12-1017 (2026).

Text

35-12-1017 . Effect of dissociation as limited partner.

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

(a)subject to 35-12-1105 , the person does not have further rights as a limited partner;

(b)the person's obligation of good faith and fair dealing as a limited partner under 35-12-707 (2) continues only as to matters arising and events occurring before the dissociation; and

(c)subject to 35-12-1105 and Title 35, chapter 12, part 15, 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.

(2)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 that the person incurred

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35-12-1017 . Effect of dissociation as limited partner. (1) Upon a person's dissociation as a limited partner:
(a) subject to 35-12-1105 , the person does not have further rights as a limited partner;
(b) the person's obligation of good faith and fair dealing as a limited partner under 35-12-707 (2) continues only as to matters arising and events occurring before the dissociation; and
(c) subject to 35-12-1105 and Title 35, chapter 12, part 15, 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.
(2) 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 that the person incurred while a limited partner.