[§425E-602]  Effect of dissociationas a limited partner.  (a)  Upon a person's dissociation as alimited partner:

(1)  Subject to section 425E-704, the person shall nothave further rights as a limited partner;

(2)  The person's obligation of good faith and fairdealing as a limited partner under section 425E-305(b) continues only as tomatters arising and events occurring before the dissociation; and

(3)  Subject to section 425E-704 and article 11, anytransferable interest owned by the person in the person's capacity as a limitedpartner immediately before dissociation shall be owned by the person as a meretransferee.

(b)  A person's dissociation as a limitedpartner shall not of itself discharge the person from any obligation to thelimited partnership or the other partners which the person incurred while alimited partner. [L 2003, c 210, pt of §1]