2012 Nebraska Revised Statutes
Chapter 67 - PARTNERSHIPS
67-433 - Effect of partner's dissociation.
(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.
- Laws 1997, LB 523, § 33.
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