Okla. Stat. tit. 54, § 54-1-603
This is the official text of Okla. Stat. tit. 54, § 54-1-603, 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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Effect of Partner's Dissociation
Official statutory text
Effect of Partner's Dissociation. (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 42 of this act;
(2) the partner's duty of loyalty under paragraph (3) of
subsection (b) of Section 25 of this act terminates; and
(3) the partner's duty of loyalty under paragraphs (1) and (2)
of subsection (b) of Section 25 of this act and duty of care under
subsection (c) of Section 25 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 42 of this act.
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 42 of this act;
(2) the partner's duty of loyalty under paragraph (3) of
subsection (b) of Section 25 of this act terminates; and
(3) the partner's duty of loyalty under paragraphs (1) and (2)
of subsection (b) of Section 25 of this act and duty of care under
subsection (c) of Section 25 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 42 of this act.
Status: in_force · Read it on the official government site
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