2011 Nevada Revised Statutes
Chapter 87A - Uniform Limited Partnership Act (2001)
NRS 87A.440 - Effect of withdrawal as limited partner.
1. Upon a person s withdrawal as a limited partner:
(a) Subject to NRS 87A.485, the person does not have further rights as a limited partner;
(b) The person s obligation of good faith and fair dealing as a limited partner under subsection 2 of NRS 87A.340 continues only as to matters arising and events occurring before the withdrawal; and
(c) Subject to NRS 87A.485 and the provisions of chapter 92A of NRS, any transferable interest owned by the person in the person s capacity as a limited partner immediately before withdrawal is owned by the person as a mere transferee.
2. A person s withdrawal as a limited partner does not of itself discharge the person from any obligation to the limited partnership or the other partners which the person incurred while a limited partner.
(Added to NRS by 2007, 463)
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