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§ 500-602A. Effect of dissociation as limited partner

Oklahoma Statutes AnnotatedTitle 54. Partnership

Oklahoma Statutes Annotated
Title 54. Partnership
Chapter 9. Uniform Limited Partnership Act of 2010 (Refs & Annos)
Article 6. Dissociation
54 Okl.St.Ann. § 500-602A
§ 500-602A. Effect of dissociation as limited partner
Currentness
EFFECT OF DISSOCIATION AS LIMITED PARTNER.
(a) Upon a person's dissociation as a limited partner:
(1) subject to Section 62 of this act, 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 subsection (b) of Section 33 of this act continues only as to matters arising and events occurring before the dissociation; and
(3) subject to Section 62 of this act and Article 11 of this act, 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.

Credits

Laws 2010, c. 384, § 53, eff. Jan. 1, 2011.
54 Okl. St. Ann. § 500-602A, OK ST T. 54 § 500-602A
Current with emergency effective legislation through Chapter 295 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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