620.1602 Effect of dissociation as limited partner.—
(1) Upon a person’s dissociation as a limited partner:
(a) Subject to s. 620.1704, 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 s. 620.1305(2) continues only as to matters arising and events occurring before the dissociation and such person’s duties, if any, under s. 620.1305(1) terminate or continue in the same manner as provided in s. 620.1605(1)(b) and (c).
(c) Subject to s. 620.1704 and ss. 620.2101-620.2125, any transferable interest owned by the person in the person’s capacity as a limited partner immediately before dissociation is owned by the person as a mere transferee.
(2) A person’s dissociation 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.
History.—s. 17, ch. 2005-267.
Section: Previous 620.1504 620.1505 620.1506 620.1507 620.1508 620.1509 620.1601 620.1602 620.1603 620.1604 620.1605 620.1606 620.1607 620.1701 620.1702 NextLast modified: September 23, 2016