South Dakota § 48-7A-603 Effect of partner's dissociation.

South Dakota Statutes

§ 48-7A-603 — Effect of partner's dissociation.

South Dakota § 48-7A-603

Title 48PARTNERSHIPS

Ch. 48-7UNIFORM PARTNERSHIP ACT

This text of South Dakota § 48-7A-603 (Effect of partner's dissociation.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 48-7A-603 (2026).

Text

(a)If a partner's dissociation results in a dissolution and winding up of the partnership business, Article 8 applies; otherwise, Article 7 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 § 48 - 7A - 803;

(2)The partner's duty of loyalty under subsection 48 - 7A - 404(b)(3) terminates; and (3) The partner's duty of loyalty under subsections 48 - 7A - 404(b)(1) and (2) and duty of care under subsection 48 - 7A - 404(c) 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 § 48 - 7A - 803.

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(a) If a partner's dissociation results in a dissolution and winding up of the partnership business, Article 8 applies; otherwise, Article 7 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 § 48 - 7A - 803; (2) The partner's duty of loyalty under subsection 48 - 7A - 404(b)(3) terminates; and (3) The partner's duty of loyalty under subsections 48 - 7A - 404(b)(1) and (2) and duty of care under subsection 48 - 7A - 404(c) 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 § 48 - 7A - 803.