2013 Maryland Code
CORPORATIONS AND ASSOCIATIONS
§ 9A-603 - Effect of partner's dissociation


MD Corp & Assn Code § 9A-603 (2013) What's This?

(a) Laws applicable. -- If a partner's dissociation results in a dissolution and winding up of the partnership business, Subtitle 8 of this title applies; otherwise, Subtitle 7 of this title applies.

(b) Rights and duties. -- Upon a partner's dissociation:

(1) The partner's right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in § 9A-803 of this title;

(2) The partner's duty of loyalty under § 9A-404(b)(3) of this title terminates; and

(3) The partner's duty of loyalty under § 9A-404(b)(1) and (2) of this title and duty of care under § 9A-404(c) of this title 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 § 9A-803 of this title.

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