§ 16603 Partner Dissociation Effects

Upon a partner’s dissociation, all of the following apply: (1) The partner’s right to participate in the management and conduct of the partnership business terminates. (2) The partner’s duty of loyalty under paragraph (3) of subdivision (b) of Section 16404 terminates. (3) The partner’s duty of loyalty under paragraphs (1) and (2) of subdivision (b) of Section 16404 and duty of care under subdivision (c) of Section 16404 continue only with regard to matters arising and events occurring before the partner’s dissociation. (Added by Stats. 1996, Ch. 1003, Sec. 2. Effective January 1, 1997.)