{"data":{"id":"us-nm/54-2a-602","jurisdiction":"us-nm","citation":"54-2A-602","heading":"Effect of dissociation as limited partner.","body":"A. Upon a person's dissociation as a limited partner:\n(1) subject to Section 704 [54-2A-704 NMSA 1978] of the Uniform Revised Limited Partnership Act, the person does not have further rights as a limited partner;\n(2) the person's obligation of good faith and fair dealing as a limited partner pursuant to Subsection B of Section 305 [54-2A-305 NMSA 1978] of the Uniform Revised Limited Partnership Act continues only as to matters arising and events occurring before the dissociation; and\n(3) subject to Section 704 [54-2A-704 NMSA 1978] and Article 11 [54-2A-1101 NMSA 1978] of the Uniform Revised Limited Partnership Act, 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.\nB. 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 that the person incurred while a limited partner.","path":["Chapter 54 - Partnerships","ARTICLE 2A Uniform Revised Limited Partnership Act"],"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":"ef263ac0a4166fce27c8a7c39df488bfd225ce9c4545e42c75652f05cc8e7bc2","source_id":"us-nm","stale":false,"prev":"us-nm/54-2a-601","next":"us-nm/54-2a-603"},"notice":"GroundRules: Original legal text. Not legal advice."}