New Jersey § 42:2A-40 Withdrawal of general partner

New Jersey Statutes

§ 42:2A-40 — Withdrawal of general partner

New Jersey § 42:2A-40

Title 42PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS

This text of New Jersey § 42:2A-40 (Withdrawal of general partner) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 42:2A-40 (2026).

Text

Withdrawal of general partner. A general partner may withdraw from a limited partnership at any time by giving written notice to the other partners, but if the withdrawal violates the partnership agreement, the limited partnership may recover from the withdrawing general partner damages for breach of the partnership agreement and offset the damages against the amount otherwise distributable to him. L. 1983, c. 489, s. 39, eff. April 1, 1985.

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Withdrawal of general partner. A general partner may withdraw from a limited partnership at any time by giving written notice to the other partners, but if the withdrawal violates the partnership agreement, the limited partnership may recover from the withdrawing general partner damages for breach of the partnership agreement and offset the damages against the amount otherwise distributable to him. L. 1983, c. 489, s. 39, eff. April 1, 1985.