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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, Subtitle 8 of this title applies; otherwise, Subtitle 7 of this title applies.
(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 § 9A-803 of this title;
(2) The partner's duty of loyalty under § 9A-404(b)(3) of this title terminates; and
(3) The partner's duty of loyalty under § 9A-404(b)(1) and (2) of this title and duty of care under § 9A-404(c) of this title 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 § 9A-803 of this title.
Cite this article: FindLaw.com - Maryland Code, Corporations and Associations § 9A-603 - last updated January 01, 2025 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-9a-603/
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