(a) If a partner's dissociation results in a dissolution and winding up of the partnership business, Article 8 applies; otherwise, Article 7 applies.(b) Upon a partner's dissociation: (1) The partner's right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in Section 79-13-803;(2) The partner's duty of loyalty under Section 79-13-404(b) (3) terminates; and(3) The partner's duty of loyalty under Section 79-13-404(b) (1) and (2) and duty of care under Section 79-13-404(c) 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 Section 79-13-803. Laws, 2004, ch. 458, § 603, eff. 1/1/2005.
Mississippi Legal Code