620.8603 Effect of partner’s dissociation.—
(1) If a partner’s dissociation results in a dissolution and winding up of the partnership business, ss. 620.8801-620.8807 apply; otherwise, ss. 620.8701-620.8705 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 s. 620.8803;
(b) The partner’s duty of loyalty under s. 620.8404(2)(c) terminates; and
(c) The partner’s duty of loyalty under s. 620.8404(2)(a) and (b) and duty of care under s. 620.8404(3) 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 s. 620.8803.
History.—s. 13, ch. 95-242.
Section: Previous 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 620.8802 NextLast modified: September 23, 2016