Tennessee § 61-3-602 Effect of dissociation as limited partner

Tennessee Statutes

§ 61-3-602 — Effect of dissociation as limited partner

Tennessee § 61-3-602

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This text of Tennessee § 61-3-602 (Effect of dissociation as limited partner) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 61-3-602 (2026).

Text

(a)If a person is dissociated as a limited partner:

(1)Subject to § 61-3-704 , the person does not have further rights as a limited partner;

(2)The person's contractual obligation of good faith and fair dealing as a limited partner under § 61-3-305(a) ends with regard to matters arising and events occurring after the person's dissociation; and (3) Subject to § 61-3-704 and part 11 of this chapter, any transferable interest owned by the person in the person's capacity as a limited partner immediately before dissociation is owned by the person solely as a transferee.

(b)A person's dissociation as a limited partner does not of itself discharge the person from any debt, obligation, or other liability to the limited partnership or the other partners which the person incurred while a limited

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(a) If a person is dissociated as a limited partner: (1) Subject to § 61-3-704 , the person does not have further rights as a limited partner; (2) The person's contractual obligation of good faith and fair dealing as a limited partner under § 61-3-305(a) ends with regard to matters arising and events occurring after the person's dissociation; and (3) Subject to § 61-3-704 and part 11 of this chapter, any transferable interest owned by the person in the person's capacity as a limited partner immediately before dissociation is owned by the person solely as a transferee. (b) A person's dissociation as a limited partner does not of itself discharge the person from any debt, obligation, or other liability to the limited partnership or the other partners which the person incurred while a limited partner.