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Idaho Statutes Title 30. Corporations § 30-23-602. Power to dissociate as partner--Wrongful dissociation

Current as of January 01, 2023 | Updated by FindLaw Staff

(a) A person has the power to dissociate as a partner at any time, rightfully or wrongfully, by withdrawing as a partner by express will under section 30-23-601(1), Idaho Code.

(b) A person's dissociation as a partner is wrongful only if the dissociation:

(1) Is in breach of an express provision of the partnership agreement; or

(2) In the case of a partnership for a definite term or particular undertaking, occurs before the expiration of the term or the completion of the undertaking and:

(A) The person withdraws as a partner by express will, unless the withdrawal follows not later than ninety (90) days after another person's dissociation by death or otherwise under section 30-23-601(6) through (10), Idaho Code, or wrongful dissociation under this subsection;

(B) The person is expelled as a partner by judicial order under section 30-23-601(5), Idaho Code;

(C) The person is dissociated under section 30-23-601(6), Idaho Code; or

(D) In the case of a person that is not a trust other than a business trust, an estate, or an individual, the person is expelled or otherwise dissociated because it willfully dissolved or terminated.

(c) A person that wrongfully dissociates as a partner is liable to the partnership and to the other partners for damages caused by the dissociation. The liability is in addition to any debt, obligation, or other liability of the partner to the partnership or the other partners.

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Cite this article: FindLaw.com - Idaho Statutes Title 30. Corporations § 30-23-602. Power to dissociate as partner--Wrongful dissociation - last updated January 01, 2023 | https://codes.findlaw.com/id/title-30-corporations/id-st-sect-30-23-602.html

Read this complete Idaho Statutes Title 30. Corporations § 30-23-602. Power to dissociate as partner--Wrongful dissociation on Westlaw

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 or via Westlaw before relying on it for your legal needs.

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