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Okla. Stat. tit. 54, § 54-1-601

This is the official text of Okla. Stat. tit. 54, § 54-1-601, part of Oklahoma’s Stat. tit. 54, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 54,." Browse the sections below, each linked to its official government source.

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Events Causing Partner's Dissociation

Official statutory text

Events Causing Partner's Dissociation. A partner is dissociated

from a partnership upon the occurrence of any of the following

events:

(1) the partnership's having notice of the partner's express

will to withdraw as a partner or on a later date specified by the

partner;

(2) an event agreed to in the partnership agreement as causing

the partner's dissociation;

Oklahoma Statutes - Title 54. Partnership Page 31

(3) the partner's expulsion pursuant to the partnership

agreement;

(4) the partner's expulsion by the unanimous vote of the other

partners if:

(i) it is unlawful to carry on the partnership business

with that partner;

(ii) there has been a transfer of all or substantially all

of that partner's transferable interest in the

partnership, other than a transfer for security

purposes, or a court order charging the partner's

interest, which has not been foreclosed;

(iii) within ninety (90) days after the partnership notifies

a corporate partner that it will be expelled because

it has filed a certificate of dissolution or the

equivalent, its charter has been revoked, or its right

to conduct business has been suspended by the

jurisdiction of its incorporation, there is no

revocation of the certificate of dissolution or no

reinstatement of its charter or its right to conduct

business; or

(iv) a partnership that is a partner has been dissolved and

its business is being wound up;

(5) on application by the partnership or another partner, the

partner's expulsion by judicial determination because:

(i) the partner engaged in wrongful conduct that adversely

and materially affected the partnership business;

(ii) the partner willfully or persistently committed a

material breach of the partnership agreement or of a

duty owed to the partnership or the other partners

under Section 25 of this act; or

(iii) the partner engaged in conduct relating to the

partnership business which makes it not reasonably

practicable to carry on the business in partnership

with the partner;

(6) the partner's:

(i) becoming a debtor in bankruptcy;

(ii) executing an assignment for the benefit of creditors;

(iii) seeking, consenting to, or acquiescing in the

appointment of a trustee, receiver, or liquidator of

that partner or of all or substantially all of that

partner's property; or

(iv) failing, within ninety (90) days after the

appointment, to have vacated or stayed the appointment

of a trustee, receiver, or liquidator of the partner

or of all or substantially all of the partner's

property obtained without the partner's consent or

acquiescence, or failing within ninety (90) days after

Oklahoma Statutes - Title 54. Partnership Page 32

the expiration of a stay to have the appointment

vacated;

(7) in the case of a partner who is an individual:

(i) the partner's death;

(ii) the appointment of a guardian or general conservator

for the partner; or

(iii) a judicial determination that the partner has

otherwise become incapable of performing the partner's

duties under the partnership agreement;

(8) in the case of a partner that is a trust or is acting as a

partner by virtue of being a trustee of a trust, distribution of the

trust's entire transferable interest in the partnership, but not

merely by reason of the substitution of a successor trustee;

(9) in the case of a partner that is an estate or is acting as

a partner by virtue of being a personal representative of an estate,

distribution of the estate's entire transferable interest in the

partnership, but not merely by reason of the substitution of a

successor personal representative; or

(10) termination of a partner who is not an individual,

partnership, corporation, trust, or estate.

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.