State Codes and Statutes
Statutes > Nevada > Title-7 > Chapter-87a > Withdrawal > 87a-44087A.440 Effect of withdrawal as limited partner.
1. Upon a person’s withdrawal as a limited partner:
(a) Subject to NRS 87A.485, the person does not have further rights as a limited partner;
(b) The person’s obligation of good faith and fair dealing as a limited partner under subsection 2 of NRS 87A.340 continues only as to matters arising and events occurring before the withdrawal; and
(c) Subject to NRS 87A.485 and the provisions of chapter 92A of NRS, any transferable interest owned by the person in the person’s capacity as a limited partner immediately before withdrawal is owned by the person as a mere transferee.
2. A person’s withdrawal as a limited partner does not of itself discharge the person from any obligation to the limited partnership or the other partners which the person incurred while a limited partner.
(Added to NRS by 2007, 463)
