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Montana Title 35. Corporations, Partnerships, and Associations § 35-10-617. Partner's wrongful dissociation

Current as of January 01, 2024 | Updated by Findlaw Staff

(1) A partner's dissociation is wrongful only if:

(a) it is in breach of an express provision of the partnership agreement; or

(b) in the case of a partnership for a definite term or particular undertaking, before the expiration of the term or the completion of the undertaking:

(i) the partner withdraws by express will, unless the withdrawal follows the dissociation of another partner and results in a right to dissolve the partnership under 35-10-624(2)(a);

(ii) the partner is expelled by judicial decree under 35-10-616(5); or

(iii) a partner, who is not an individual, a trust other than a business trust, or an estate, is expelled or otherwise dissociated because the entity willfully dissolved or terminated.

(2) A partner who wrongfully dissociates is liable to the partnership and to the other partners for damages caused by the dissociation. That liability is in addition to any other liability of the partner to the partnership or to the other partners.

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Cite this article: FindLaw.com - Montana Title 35. Corporations, Partnerships, and Associations § 35-10-617. Partner's wrongful dissociation - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-35-corporations-partnerships-and-associations/mt-st-35-10-617/

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