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2011 Nevada Revised Statutes
Chapter 87 - Partnerships
NRS 87.4345 - Effect of dissociation.

Universal Citation:
NV Rev Stat ยง 87.4345 (2011)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

1. If a partner s dissociation results in a dissolution and winding up of the partnership business, the provisions of NRS 87.4351 to 87.4357, inclusive, apply. If a partner s dissociation does not result in a dissolution and winding up of the partnership business, the provisions of NRS 87.4346 to 87.435, inclusive, 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 NRS 87.4353;

(b) The partner s duty of loyalty under paragraph (c) of subsection 2 of NRS 87.4336 terminates; and

(c) The partner s duty of loyalty under paragraphs (a) and (b) of subsection 2 of NRS 87.4336 and duty of care under subsection 3 of NRS 87.4336 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 NRS 87.4353.

(Added to NRS by 2005, 435)

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