Corporations Code - CORP - CORP § 15906.02

Summary

(a) Upon a person’s dissociation as a limited partner: (1) subject to Section 15907.04, the person does not have further rights as a limited partner; (2) the person’s obligation of good faith and fair dealing as a limited partner under subdivision (b) of Section 15903.05 continue

Text

(a)
Upon a person’s dissociation as a limited partner:
(1)
subject to Section 15907.04, the person does not have further rights as a limited partner;
(2)
the person’s obligation of good faith and fair dealing as a limited partner under subdivision (b) of Section 15903.05 continues only as to matters arising and events occurring before the dissociation; and
(3)
subject to Section 15907.04 and Article 11 (commencing with Section 15911.01), any transferable interest owned by the person in the person’s capacity as a limited partner immediately before dissociation is owned by the person as a mere transferee.
(b)
A person’s dissociation as a limited partner does not of itself discharge the person from any obligation to the limited partnership or the other partners which the person incurred while a limited partner.

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• #1 | Corporations Code - CORP - CORP § 15906.02

  (a) Upon a person’s dissociation as a limited partner: (1) subject to Section 15907.04, the person does not have further rights as a limited partner; (2) the person’s obligation of good faith and fair dealing as a limited partner under subdivision (b) of Section 15903.05 continues only as to matters arising and e…