Public-domain · open source
OpenJurist

Ark. Code Ann. § 4-46-603

Effect of partner's dissociation

Known as the Uniform Partnership Act

The act spans §§ 4–4 (71 sections).

Acts 1999, No. 1518, § 603.

(1) If a partner's dissociation results in a dissolution and winding up of the partnership business, § 4-46-801 et seq. applies; otherwise, § 4-46-701 et seq. applies.

(2) Upon a partner's dissociation: the partner's right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in § 4-46-803;

(3) the partner's duty of loyalty under § 4-46-404(b)(3) terminates; and

(4) the partner's duty of loyalty under § 4-46-404(b)(1) and (2) and duty of care under § 4-46-404(c) continue only with regard to matters arising and events occurring before the partner's dissociation, unless the partner participates in winding up the partnership's business pursuant to § 4-46-803.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.