Nevada § 87A.440 Effect of withdrawal as limited partner

Nevada Statutes

§ 87A.440 — Effect of withdrawal as limited partner

Nevada·Title 7 BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES·Ch. 87A Uniform· WITHDRAWAL

1. Upon a person’s withdrawal as a limited partner:

(a)Subject to NRS 87A.485 , 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 subsection 2 of NRS 87A.340 continues only as to matters arising and events occurring before the withdrawal; and

(c)Subject to NRS 87A.485 and the provisions of chapter 92A of NRS, any transferable interest owned by the person in the person’s capacity as a limited partner immediately before withdrawal is owned by the person as a mere transferee. 2. A person’s withdrawal as a limited partner does not of itself discharge the person from any obligation to the limited partnership or the other partners which the person incurred while a limited partner.

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1. Upon a person’s withdrawal as a limited partner:
(a) Subject to NRS 87A.485 , 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 subsection 2 of NRS 87A.340 continues only as to matters arising and events occurring before the withdrawal; and
(c) Subject to NRS 87A.485 and the provisions of chapter 92A of NRS, any transferable interest owned by the person in the person’s capacity as a limited partner immediately before withdrawal is owned by the person as a mere transferee.
2. A person’s withdrawal as a limited partner does not of itself discharge the person from any obligation to the limited partnership or the other partners which the person incurred while a limited partner.

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