2004 Alaska Statutes
Title 32 PARTNERSHIP
Chapter 32.06. UNIFORM PARTNERSHIP ACT
Article 05 PARTNER'S DISSOCIATION
Sec. 32.06.603. Effect of partner's dissociation.
Sec. 32.06.603. Effect of partner's dissociation.
(a) If a partner's dissociation results in a dissolution and winding up of the partnership business, AS 32.06.801 - 32.06.807 apply, otherwise AS 32.06.701 - 32.06.705 apply.
(b) Upon a partner's dissociation, the partner's
(1) right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in AS 32.06.803;
(2) duty of loyalty under AS 32.06.404 (b)(3) terminates; and
(3) duty of loyalty under AS 32.06.404 (b)(1) and (2) and duty of care under AS 32.06.404 (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 under AS 32.06.803.
Disclaimer: These codes may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
