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56a-603

Chapter 56a.--KANSAS UNIFORM PARTNERSHIP ACT Article 6.--PARTNER'S DISSOCIATION

56a-603. Effect of partner's dissociation.(a) If a partner's dissociation results in adissolution and winding up of the partnership business, article8 applies; otherwise, article 7 applies.

(b) Upon a partner's dissociation:

(1) The partner's right to participate in themanagement and conduct of the partnership business terminates,except as otherwise provided inK.S.A. 56a-803;

(2) the partner's duty of loyalty under subsection (b)(3) ofK.S.A. 56a-404 terminates; and

(3) the partner's duty of loyalty under subsection (b)(1) and (2) of K.S.A.56a-404 and duty of care under subsection (c) ofK.S.A. 56a-404 continueonly with regard to matters arising and events occurring before thepartner's dissociation, unless the partner participates in windingup the partnership's business pursuant toK.S.A. 56a-803.

History: L. 1998, ch. 93, § 32; Jan. 1, 1999.

State Codes and Statutes

Statutes > Kansas > Chapter56a > Article6 > Statutes_22007

56a-603

Chapter 56a.--KANSAS UNIFORM PARTNERSHIP ACT Article 6.--PARTNER'S DISSOCIATION

56a-603. Effect of partner's dissociation.(a) If a partner's dissociation results in adissolution and winding up of the partnership business, article8 applies; otherwise, article 7 applies.

(b) Upon a partner's dissociation:

(1) The partner's right to participate in themanagement and conduct of the partnership business terminates,except as otherwise provided inK.S.A. 56a-803;

(2) the partner's duty of loyalty under subsection (b)(3) ofK.S.A. 56a-404 terminates; and

(3) the partner's duty of loyalty under subsection (b)(1) and (2) of K.S.A.56a-404 and duty of care under subsection (c) ofK.S.A. 56a-404 continueonly with regard to matters arising and events occurring before thepartner's dissociation, unless the partner participates in windingup the partnership's business pursuant toK.S.A. 56a-803.

History: L. 1998, ch. 93, § 32; Jan. 1, 1999.

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State Codes and Statutes

Statutes > Kansas > Chapter56a > Article6 > Statutes_22007

56a-603

Chapter 56a.--KANSAS UNIFORM PARTNERSHIP ACT Article 6.--PARTNER'S DISSOCIATION

56a-603. Effect of partner's dissociation.(a) If a partner's dissociation results in adissolution and winding up of the partnership business, article8 applies; otherwise, article 7 applies.

(b) Upon a partner's dissociation:

(1) The partner's right to participate in themanagement and conduct of the partnership business terminates,except as otherwise provided inK.S.A. 56a-803;

(2) the partner's duty of loyalty under subsection (b)(3) ofK.S.A. 56a-404 terminates; and

(3) the partner's duty of loyalty under subsection (b)(1) and (2) of K.S.A.56a-404 and duty of care under subsection (c) ofK.S.A. 56a-404 continueonly with regard to matters arising and events occurring before thepartner's dissociation, unless the partner participates in windingup the partnership's business pursuant toK.S.A. 56a-803.

History: L. 1998, ch. 93, § 32; Jan. 1, 1999.