§ 1-601. Events causing partner's dissociation
Oklahoma Statutes AnnotatedTitle 54. Partnership
54 Okl.St.Ann. § 1-601
§ 1-601. Events causing partner's dissociation
Events Causing Partner's Dissociation. A partner is dissociated from a partnership upon the occurrence of any of the following events:
(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partner that it will be expelled because it has filed a certificate of dissolution or the equivalent, its charter has been revoked, or its right to conduct business has been suspended by the jurisdiction of its incorporation, there is no revocation of the certificate of dissolution or no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
(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;1 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 the expiration of a stay to have the appointment vacated;
Credits
Laws 1997, c. 399, § 32, eff. Nov. 1, 1997.
Footnotes
Title 54, § 1-404.
54 Okl. St. Ann. § 1-601, OK ST T. 54 § 1-601
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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