Public-domain · open source
OpenJurist

Fla. Stat. § 620.8603

Effect of partner’s dissociation

Known as the Revised Uniform Partnership Act

The act spans §§ 620–620 (71 sections).

Applied in 1 court decision — leading case Buckley Towers Condominium, Inc. v. Katzman Garfinkel Rosenbaum, LLP (2013)

Most recently applied in Buckley Towers Condominium, Inc. v. Katzman Garfinkel Rosenbaum, LLP (May 2013)

History.--s. 13, ch. 95-242.

(1) If a partner’s dissociation results in a dissolution and winding up of the partnership business, ss. 620.8801-620.8807 apply; otherwise, ss. 620.8701-620.8705 apply.

(2) Upon a partner’s dissociation:

(a) The partner’s right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in s. 620.8803;

(b) The partner’s duty of loyalty under s. 620.8404(2)(c) terminates; and

(c) The partner’s duty of loyalty under s. 620.8404(2)(a) and (b) and duty of care under s. 620.8404(3) 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 s. 620.8803.

Official source: Online Sunshine (Florida Legislature). Reproduced from public-domain Florida statutes; confirm against the official source for the current text. Not legal advice.