The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
006
:
PARTNER'S DISSOCIATION
(Cite as: 11 V.S.A. § 3253)
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§ 3253. Effect of partner’s dissociation
(a) If a partner’s dissociation results in a dissolution and winding up of the partnership
business, subchapter 8 of this chapter applies; otherwise, subchapter 7 of this chapter
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 3273 of this title;
(2) the partner’s duty of loyalty under subdivision 3234(b)(3) of this title terminates; and
(3) the partner’s duty of loyalty under subdivisions 3234(b)(1) and (2) of this title
and duty of care under subsection 3234(c) of this title 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 3273 of this title. (Added 1997, No. 149 (Adj. Sess.), § 1, eff. Jan. 1, 1999.)