{"data":{"id":"us-nm/54-1a-603","jurisdiction":"us-nm","citation":"54-1A-603","heading":"Effect of partner's dissociation.","body":"(a) If a partner's dissociation results in a dissolution and winding up of the partnership business, Article 8 applies; otherwise, Article 7 applies.\n(b) Upon a partner's dissociation:\n(1) the partner's right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in Section 803 [54-1A-803 NMSA 1978];\n(2) the partner's duty of loyalty under Section 404(b)(3) [54-1A-404(b)(3) NMSA 1978] terminates; and\n(3) the partner's duty of loyalty under Section 404(b)(1) and (2) [54-1A-404(b)(1) and (2) NMSA 1978] and duty of care under Section 404(c) [54-1A-404(c) NMSA 1978] 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 803.","path":["Chapter 54 - Partnerships","ARTICLE 1A Uniform Partnerships"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18557/index.do","current_through":"2022-05-12","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"0e8d2e2efc2befd6ca51d0284d34a95e6b18131cc1fa6b25389d3056cc43cde0","source_id":"us-nm","stale":false,"prev":"us-nm/54-1a-602","next":"us-nm/54-1a-701"},"notice":"GroundRules: Original legal text. Not legal advice."}