New Mexico Statutes
§ 54-2A-605 — Effect of dissociation as general partner
A. Upon a person's dissociation as a general partner:
(1)the person's right to participate as a general partner in the management and conduct of the partnership's activities terminates;
(2)the person's duty of loyalty as a general partner pursuant to Paragraph (3) of Subsection B of Section 408 [54-2A-408 NMSA 1978] of the Uniform Revised Limited Partnership Act terminates;
(3)the person's duty of loyalty as a general partner pursuant to Paragraphs (1) and (2) of Subsection B of Section 408 of the Uniform Revised Limited Partnership Act and duty of care pursuant to Subsection C of Section 408 of the Uniform Revised Limited Partnership Act continue only with regard to matters arising and events occurring before the person's dissociation as a general partner;
(4)the person may sign and d
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New Mexico § 54-2A-605 (Effect of dissociation as general partner) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Laws 2007, ch. 129, § 605.
Nearby Sections
15
§ 54-1-48
Repealed§ 54-1A-1001
Statement of qualification§ 54-1A-1002
Statement of qualification; name§ 54-1A-1003
Annual report§ 54-1A-101
Definitions§ 54-1A-102
Knowledge and notice§ 54-1A-103
Effect of partnership agreement; nonwaivable§ 54-1A-104
Supplemental principles of law§ 54-1A-106
Governing law§ 54-1A-1102
Statement of foreign qualification§ 54-1A-1103
Effect of failure to qualify