2011 Kentucky Revised Statutes
Subchapter 1 Kentucky Revised Uniform Partnership Act (2006)
362.1.603 Effect of partner's dissociation.
KY Rev Stat § 362.1.603 (1996 through Reg Sess) What's This?
362.1-603 Effect of partner's dissociation.
If a partner's dissociation results in a dissolution and winding up of the partnership
business, then KRS 362.1-801 to 362.1-807 apply; otherwise, KRS 362.1-701 to
Upon a partner's dissociation, the dissociating partner's:
(a) Right to participate in the management and conduct of the partnership
business terminates, except as otherwise provided in KRS 362.1-803;
(b) Duty of loyalty under KRS 362.1-404(2)(c) terminates; and
(c) Duty of loyalty under KRS 362.1-404(2)(a) and (b) and duty of care under
KRS 362.1-404(3) 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 KRS 362.1-803.
Effective: July 12, 2006
History: Created 2006 Ky. Acts ch. 149, sec. 48, effective July 12, 2006.
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