2019 US Virgin Islands Code
Title 26 - Partnerships
Chapter 1 - Uniform Partnership Act
Subchapter VI - Partner's Dissociation
§ 123. Effect of partner's dissociation

(a) If a partner's dissociation results in a dissolution and winding up of the partnership business, subchapter VIII of this chapter applies; otherwise, subchapter VII of this chapter applies.

(b) 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 section 173 of this chapter;

• (2) the partner's duty of loyalty under section 1404, subsection (b), item (3) of this chapter terminates; and

• (3) the partner's duty of loyalty under section 74, subsection (b), items (1) and (2) of this chapter and duty of care under section 74, subsection (c) of this chapter 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 section 173 of this chapter.