D.C. Code § 29-706.02: Effect of dissociation as limited partner.

(a)

Upon a person’s dissociation as a limited partner:

(1)

Subject to § 29-707.04, the person shall not have further rights as a limited partner;

(2)

The person’s obligation of good faith and fair dealing as a limited partner under § 29-703.05(b) shall continue only as to matters arising and events occurring before the dissociation; and

(3)

Subject to § 29-707.04 and subchapter X of this chapter, any transferable interest owned by the person in the person’s capacity as a limited partner immediately before dissociation shall be owned by the person as a mere transferee.

(b)

A person’s dissociation as a limited partner does not itself discharge the person from any debt, liability, or other obligation to the limited partnership or the other partners which the person incurred while a limited partner.