25.05.235 - Effect of partner's dissociation. - Washington Statutes

Effect of partner's dissociation.

(1) If a partner'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.

     (2) Upon a partner's dissociation:

     (a) The partner's right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in RCW 25.05.310;

     (b) The partner's duty of loyalty under RCW 25.05.165(2)(c) terminates; and

     (c) The partner's duty of loyalty under RCW 25.05.165(2) (a) and (b) and duty of care under RCW 25.05.165(3) 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 RCW 25.05.310.

[1998 c 103 § 603.]