Utah § 48-2e-602 Effect of dissociation as limited partner.

Utah Statutes

§ 48-2e-602 — Effect of dissociation as limited partner.

Utah § 48-2e-602

Title 48Unincorporated Business Entity Act

Ch. 48-2eUtah Uniform Limited Partnership Act

Part 48-2e-6Dissociation

This text of Utah § 48-2e-602 (Effect of dissociation as limited partner.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 48-2e-602 (2026).

Text

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

(1)(a) subject to Section 48-2e-704, the person does not have further rights as a limited partner;

(1)(b) the person's contractual obligation of good faith and fair dealing as a limited partner under Subsection 48-2e-305(1) ends with regard to matters arising and events occurring after the person's dissociation; and

(1)(c) subject to Section 48-2e-704 and Part 11, Merger, Interest Exchange, Conversion, and Domestication, 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.

(2)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

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

(1)(a) subject to Section 48-2e-704, the person does not have further rights as a limited partner;
(1)(b) the person's contractual obligation of good faith and fair dealing as a limited partner under Subsection 48-2e-305(1) ends with regard to matters arising and events occurring after the person's dissociation; and
(1)(c) subject to Section 48-2e-704 and Part 11, Merger, Interest Exchange, Conversion, and Domestication, 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.
(2) 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.