N.J. Stat. § 42:1A-33
This is the official text of N.J. Stat. § 42:1A-33, part of New Jersey’s Stat — part of the compiled statutory law of New Jersey, published by the state as "Stat." Browse the sections below, each linked to its official government source.
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Dissociation; effects on partnership, partner
Official statutory text
33. a. If a partner's dissociation results in a dissolution and winding up of the partnership business, Article 8 of this act applies; otherwise, Article 7 of this act 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 41 of this act; (2) the partner's duty of loyalty under paragraph (3) of subsection b. of section 24 of this act terminates; and (3) the partner's duty of loyalty under paragraphs (1) and (2) of subsection b. and duty of care under subsection c. of section 24 of this act 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 41 of this act. L.2000,c.161,s.33.
Status: in_force · Read it on the official government site
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