Oklahoma Statutes
§ 54-1-603 — Effect of Partner's Dissociation.
Oklahoma·Title 54 Partnership
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
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Legislative History
Added by Laws 1997, c. 399, § 34, eff. Nov. 1, 1997.
Nearby Sections
15
§ 54-1
Repealed§ 54-1-100
Short title.§ 54-1-1002
Name.§ 54-1-101
Definitions.§ 54-1-102
Knowledge and Notice.§ 54-1-104
Supplemental Principles of Law.§ 54-1-106
Governing Law.§ 54-1-1102
Statement Of Foreign Qualification.§ 54-1-1103
Effect Of Failure To Qualify.