§ 48-1d-702 — Power to dissociate as partner -- Wrongful dissociation.

(1) A person has the power to dissociate as a partner at any time, rightfully or wrongfully, by withdrawing as a partner by express will under Subsection 48-1d-701(1).
(2) A person's dissociation as a partner is wrongful only if the dissociation:

(2)(a) is in breach of an express provision of the partnership agreement; or
(2)(b) in the case of a partnership for a definite term or particular undertaking, occurs before the expiration of the term or the completion of the undertaking and:
(2)(b)(i) the person withdraws by express will, unless the withdrawal follows not later than 90 days after another person's dissociation by death or otherwise under Subsections 48-1d-701(6) through (10) or wrongful dissociation under this subsection;
(2)(b)(ii) the person is expelled by judicial order under Subsection 48-1d-701(5);
(2)(b)(iii) the person is dissociated under Subsection 48-1d-701(7); or
(2)(b)(iv) in the case of a person that is not a trust other than a business trust, an estate, an individual, or a trust other than a business trust, the person is expelled or otherwise dissociated because it willfully dissolved or terminated.
(3) A person that wrongfully dissociates is liable to the partnership and to the other partners for damages caused by the dissociation. The liability is in addition to any debt, obligation, or other liability of the partner to the partnership or the other partners.

Legislative History

Enacted by Chapter 412, 2013 General Session