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(a) If a partner's dissociation results in a dissolution and winding up of the partnership business, Article 8 applies; otherwise, Article 7 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 Section 79-13-803;
(2) The partner's duty of loyalty under Section 79-13-404(b)(3) terminates; and
(3) The partner's duty of loyalty under Section 79-13-404(b)(1) and (2) and duty of care under Section 79-13-404(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 Section 79-13-803.
Cite this article: FindLaw.com - Mississippi Code Title 79. Corporations, Associations, and Partnerships § 79-13-603. Effect of partner's dissociation - last updated January 01, 2018 | https://codes.findlaw.com/ms/title-79-corporations-associations-and-partnerships/ms-code-sect-79-13-603/
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