{"data":{"id":"us-ok/okla.-stat.-tit.-54-54-500-605a","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 54, § 54-500-605A","heading":"Effect of dissociation as general partner","body":"EFFECT OF DISSOCIATION AS GENERAL PARTNER.\n\n(a) Upon a person’s dissociation as a general partner:\n\n(1) the person’s right to participate as a general partner in\n\nthe management and conduct of the partnership’s activities\n\nterminates;\n\n(2) the person’s duty of loyalty as a general partner under\n\nparagraph (3) of subsection (b) of Section 42 of this act\n\nterminates;\n\n(3) the person’s duty of loyalty as a general partner under\n\nparagraphs (1) and (2) of subsection (b) of Section 42 of this act\n\nand duty of care under subsection (c) of Section 42 of this act\n\ncontinue only with regard to matters arising and events occurring\n\nbefore the person’s dissociation as a general partner;\n\n(4) the person may sign and deliver to the Secretary of State\n\nfor filing a statement of dissociation pertaining to the person and,\n\nat the request of the limited partnership, shall sign an amendment\n\nto the certificate of limited partnership which states that the\n\nperson has dissociated; and\n\n(5) subject to Section 62 of this act and Article 11 of this\n\nact, any transferable interest owned by the person immediately\n\nbefore dissociation in the person’s capacity as a general partner is\n\nowned by the person as a mere transferee.\n\n(b) A person’s dissociation as a general partner does not of\n\nitself discharge the person from any obligation to the limited\n\npartnership or the other partners which the person incurred while a\n\ngeneral partner.","path":["OK Code","Title 54"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os54.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"ba07750320baf910aba05997d68d91309e889abb0876b7dc248b5c19e5b0d8f3","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-54-54-500-604a","next":"us-ok/okla.-stat.-tit.-54-54-500-606a"},"notice":"GroundRules: Original legal text. Not legal advice."}