2013 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 067 - Partnerships; Limited Liability Partnerships
Section 67.230 - Effect of partner's dissociation.
(1) If a partner's dissociation results in a dissolution and winding up of the partnership business, ORS 67.290 to 67.315 apply. If a partner's dissociation does not result in dissolution and winding up of the partnership business, ORS 67.250 to 67.265 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 ORS 67.300;
(b) The partner's duty of loyalty under ORS 67.155 (2)(c) terminates; and
(c) The partner's duty of loyalty under ORS 67.155 (2)(a) and (b) and duty of care under ORS 67.155 (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 ORS 67.300. [1997 c.775 §29]
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