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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) If a partner's dissociation results in a dissolution and winding up of the partnership business, sections 34-372 to 34-378, inclusive, apply; otherwise, sections 34-362 to 34-366, inclusive, apply.
(b) Upon a partner's dissociation:
(1) The partner's right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in section 34-374;
(2) The partner's duty of loyalty under subdivision (3) of subsection (b) of section 34-338 terminates; and
(3) The partner's duty of loyalty under subdivisions (1) and (2) of subsection (b) of section 34-338 and duty of care under subsection (c) of said section 34-338 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 section 34-374.
Cite this article: FindLaw.com - Connecticut General Statutes Title 34. Limited Partnerships, Partnerships, Professional Associations, Limited Liability Companies and Statutory Trusts § 34-357. Effect of partner's dissociation - last updated January 01, 2025 | https://codes.findlaw.com/ct/title-34-limited-partnerships-partnerships-professional-associations-limited-liability-companies-and-statutory-trusts/ct-gen-st-sect-34-357/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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