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Current as of January 01, 2024 | Updated by FindLaw Staff
(1) If a partner's dissociation results in a dissolution and winding up of the partnership business, sections 67-439 to 67-445 apply; otherwise, sections 67-434 to 67-438 apply.
(2) Upon a partner's dissociation:
(a) The partner's right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in section 67-441;
(b) The partner's duty of loyalty under subdivision (2)(c) of section 67-424 terminates; and
(c) The partner's duty of loyalty under subdivisions (2)(a) and (2)(b) of section 67-424 and duty of care under subsection (3) of section 67-424 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 67-441.
Cite this article: FindLaw.com - Nebraska Revised Statutes Chapter 67. Partnerships § 67-433. Effect of partner's dissociation - last updated January 01, 2024 | https://codes.findlaw.com/ne/chapter-67-partnerships/ne-rev-st-sect-67-433/
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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