Sec. 34-356. Partner's power to dissociate. Wrongful dissociation.
Sec. 34-356. Partner's power to dissociate. Wrongful dissociation. (a) A partner
has the power to dissociate at any time, rightfully or wrongfully, by express will pursuant
to subdivision (1) of section 34-355.
(b) A partner's dissociation is wrongful only if:
(1) It is in breach of an express provision of the partnership agreement; or
(2) In the case of a partnership for a definite term or particular undertaking, before
the expiration of the term or the completion of the undertaking: (A) The partner withdraws by express will, unless the withdrawal follows within ninety days after another
partner's dissociation by death or otherwise under subdivisions (6) to (10), inclusive,
of section 34-355 or wrongful dissociation under this subsection; (B) the partner is
expelled by judicial determination under subdivision (5) of section 34-355; (C) the
partner is dissociated by becoming a debtor in bankruptcy; or (D) in the case of a partner
who is not an individual, trust, other than a business trust, or estate, the partner is expelled
or otherwise dissociated because it wilfully dissolved or terminated.
(c) A partner who wrongfully dissociates is liable to the partnership and to the other
partners for damages caused by the dissociation. The liability is in addition to any other
obligation of the partner to the partnership or to the other partners.
(P.A. 95-341, S. 32, 58.)
History: P.A. 95-341 effective July 1, 1997.