(a) Upon a person's dissociation as a limited partner:
(1) subject to § 4-47-704, the person does not have further rights as a limited partner;
(2) the person's obligation of good faith and fair dealing as a limited partner under § 4-47-305(b) continues only as to matters arising and events occurring before the dissociation; and
(3) subject to § 4-47-704 and subchapter 11, 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.
(b) 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 which the person incurred while a limited partner.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Chapter 47 - Uniform Limited Partnership Act (2001)
§ 4-47-601. Dissociation as limited partner
§ 4-47-602. Effect of dissociation as limited partner
§ 4-47-603. Dissociation as general partner
§ 4-47-604. Person's power to dissociate as general partner — Wrongful dissociation
§ 4-47-605. Effect of dissociation as general partner
§ 4-47-607. Liability to other persons of person dissociated as general partner