2017 Arizona Revised Statutes
Title 29 - Partnership
§ 29-332 Withdrawal of general partner

Universal Citation: AZ Rev Stat § 29-332 (2017)

29-332. Withdrawal of general partner

A general partner may withdraw from a limited partnership at any time by giving written notice to the other partners, but if the withdrawal violates the partnership agreement, the limited partnership may recover from the withdrawing general partner damages for breach of the partnership agreement and offset the damages against the amount otherwise distributable to him. The withdrawal of a general partner who is also a limited partner does not constitute withdrawal of the partner as a limited partner or affect the partner s rights as a limited partner.

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