Cal. Corporations Code § 15906.02
Cal. Corporations Code § 15906.02
California · California Corporations Code · Status: effective · Effective 2007-01-01
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- Citation
- Cal. Corporations Code § 15906.02, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/792797
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Full text
(a) Upon a person’s dissociation as a limited partner:
(1) subject to Section 15907.04, the person does not have further rights as a limited partner;
(2) the person’s obligation of good faith and fair dealing as a limited partner under subdivision (b) of Section 15903.05 continues only as to matters arising and events occurring before the dissociation; and
(3) subject to Section 15907.04 and Article 11 (commencing with Section 15911.01), any transferable interest owned by the person in the person’s capacity as a limited partner immediately before dissociation is owned by the person as a mere transferee.
(b) A person’s dissociation as a limited partner does not of itself discharge the person from any obligation to the limited partnership or the other partners which the person incurred while a limited partner.