Oklahoma § 54-1-603 Effect of Partner's Dissociation.

Oklahoma Statutes

§ 54-1-603 — Effect of Partner's Dissociation.

Oklahoma § 54-1-603

Title 54Partnership

This text of Oklahoma § 54-1-603 (Effect of Partner's Dissociation.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 54, § 54-1-603 (2026).

Text

Effect of Partner's Dissociation.

(a)If a partner's dissociation results in a dissolution and winding up of the partnership business, Article 8 of this act applies; otherwise, Article 7 of this act applies.

(b)Upon a partner's dissociation:

(1)the partner's right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in Section 42 of this act;

(2)the partner's duty of loyalty under paragraph (3) of subsection (b) of Section 25 of this act terminates; and (3) the partner's duty of loyalty under paragraphs (1) and (2) of subsection (b) of Section 25 of this act and duty of care under subsection (c) of Section 25 of this act continue only with regard to matters arising and events occurring before the partner's dissociation, unless

Free access — add to your briefcase to read the full text and ask questions with AI

Effect of Partner's Dissociation. (a) If a partner's dissociation results in a dissolution and winding up of the partnership business, Article 8 of this act applies; otherwise, Article 7 of this act applies. (b) Upon a partner's dissociation: (1) the partner's right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in Section 42 of this act; (2) the partner's duty of loyalty under paragraph (3) of subsection (b) of Section 25 of this act terminates; and (3) the partner's duty of loyalty under paragraphs (1) and (2) of subsection (b) of Section 25 of this act and duty of care under subsection (c) of Section 25 of this act 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 42 of this act.