§ 45-18-03 — (603) Effect of partner's dissociation

1. If a partner's dissociation results in a dissolution and winding up of the partnership
business, chapter 45-20 applies, otherwise, chapter 45-19 applies.
2. Upon a partner's dissociation:
a. The partner's right to participate in the management and conduct of the
partnership business terminates, except as otherwise provided in section
45-20-03;
b. The partner's duty of loyalty under subdivision c of subsection 2 of section
45-16-04 terminates; and
c. The partner's duty of loyalty under subdivisions a and b of subsection 2 of section
45-16-04 and duty of care under subsection 3 of section 45-16-04 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 section 45-20-03.