A partner's dissociation does not of itself discharge the partner's liability for a partnership obligation incurred before dissociation. A dissociated partner is not liable for a partnership obligation incurred after dissociation, except as otherwise provided in subsection (b).
A partner who dissociates without resulting in a dissolution and winding up of the partnership business is liable as a partner to the other party in a transaction entered into by the partnership, or a surviving partnership under Article 9, within one (1) year after the partner's dissociation, only if the partner is liable for the obligation under Section 79-13-306 and at the time of entering into the transaction the other party:
By agreement with the partnership creditor and the partners continuing the business, a dissociated partner may be released from liability for a partnership obligation.
A dissociated partner is released from liability for a partnership obligation if a partnership creditor, with notice of the partner's dissociation but without the partner's consent, agrees to a material alteration in the nature or time of payment of a partnership obligation.
Structure Mississippi Code
Title 79 - Corporations, Associations, and Partnerships
Chapter 13 - Uniform Partnership Act (1997)
Article 7 - Partner's Dissociation When Business Not Wound Up
§ 79-13-701. Purchase of dissociated partner's interest
§ 79-13-702. Dissociated partner's power to bind and liability to partnership
§ 79-13-703. Dissociated partner's liability to other persons