(a) If a person’s dissociation results in a dissolution and winding up of the partnership business, Article 8 of this chapter applies; otherwise, Article 7 of this chapter applies. (b) If a person is dissociated as a partner: (1) The person’s right to participate in the management and conduct of the partnership’s business terminates, except as otherwise provided in § 7-12.1-802(c); and (2) The person’s duties and obligations under § 7-12.1-409 end with regard to matters arising and events occurring after the person’s dissociation, except to the extent the partner participates in winding up the partnership’s business pursuant to § 7-12.1-802. (c) A person’s dissociation does not of itself discharge the person from any debt, obligation, or other liability to the partnership or the other partners which the person incurred while a partner.
‹ Prev All Rhode Island sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.