Sec. 34-357. Effect of partner's dissociation. - Connecticut Statutes

      Sec. 34-357. Effect of partner's dissociation. (a) If a partner's dissociation results in a dissolution and winding up of the partnership business, sections 34-372 to 34-378, inclusive, apply; otherwise, sections 34-362 to 34-366, inclusive, apply.

      (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 34-374;

      (2) The partner's duty of loyalty under subdivision (3) of subsection (b) of section 34-338 terminates; and

      (3) The partner's duty of loyalty under subdivisions (1) and (2) of subsection (b) of section 34-338 and duty of care under subsection (c) of said section 34-338 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 34-374.

      (P.A. 95-341, S. 33, 58.)

      History: P.A. 95-341 effective July 1, 1997.