Legislation
SECTION 121-602
Withdrawal of a general partner
Partnership (PTR) CHAPTER 39, ARTICLE 8-A
§ 121-602. Withdrawal of a general partner. A general partner may
withdraw from a limited partnership at any time by giving written notice
to the other partners, but if the withdrawal violates the partnership
agreement, the limited partnership may recover from the withdrawing
general partner damages for breach of the partnership agreement, which
may be determined as set forth in the partnership agreement, and offset
the damages against the amount otherwise distributable to him.
withdraw from a limited partnership at any time by giving written notice
to the other partners, but if the withdrawal violates the partnership
agreement, the limited partnership may recover from the withdrawing
general partner damages for breach of the partnership agreement, which
may be determined as set forth in the partnership agreement, and offset
the damages against the amount otherwise distributable to him.