620.8602 Partner’s power to dissociate; wrongful dissociation.—
(1) A partner has the power to dissociate at any time, rightfully or wrongfully, by express will pursuant to s. 620.8601(1).
(2) A partner’s dissociation is wrongful only if:
(a) It is in breach of an express provision of the partnership agreement; or
(b) In the case of a partnership for a definite term or particular undertaking, before the expiration of the term or the completion of the undertaking:
1. The partner withdraws by express will, unless the withdrawal follows within 90 days after another partner’s dissociation by death or otherwise under s. 620.8601(6)-(10) or wrongful dissociation under this subsection;
2. The partner is expelled by judicial determination under s. 620.8601(5);
3. The partner is dissociated by becoming a debtor in bankruptcy; or
4. In the case of a partner who is not an individual, trust other than a business trust, or estate, the partner is expelled or otherwise dissociated because the partner willfully dissolved or terminated.
(3) A partner who wrongfully dissociates is liable to the partnership and to the other partners for damages caused by the dissociation. The liability is in addition to any other obligation of the partner to the partnership or to the other partners.
History.—s. 13, ch. 95-242.
Section: Previous 620.8405 620.8406 620.8501 620.8502 620.8503 620.8504 620.8601 620.8602 620.8603 620.8701 620.8702 620.8703 620.8704 620.8705 620.8801 NextLast modified: September 23, 2016