§ 362-2-602

362.2 -602 Effect of dissociation as limited partner. Upon a person's dissociation as a limited partner: (1) Subject to KRS 362.2 -704, 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 KRS 362.2 -305(2) continues only as to matters arising and events occurring before the dissociation; (3) Subject to KRS 362.2 -704 and 362.2 -951 to 362.2 -963, 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; and (4) The dissociation 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. Effective: July 12, 2006 History: Created 2006 Ky. Acts ch. 149, sec. 139, effective July 12, 2006.