CODE OF VIRGINIA

PARTNER’S POWER TO DISSOCIATE; WRONGFUL DISSOCIATION (§ 50-73.110)

A. A partner has the power to dissociate at any time, rightfully or wrongfully,
by express will pursuant to subdivision 1 of § 50-73.109.

B. A partner’s dissociation is wrongful only if:

   1.  It is in breach of an express provision of the partnership agreement; or

   2.  In the case of a partnership for a definite term or particular
   undertaking, before the expiration of the term or the completion of the
   undertaking:
               
               
               
            

      a.  The partner withdraws by express will, unless the withdrawal follows
      within 90 days after another partner’s dissociation by death or
      otherwise under subdivisions 6 through 10 and 12 of § 50-73.109 or wrongful
      dissociation under this subsection;

      b.  The partner is expelled by judicial determination under subdivision 5 of
      § 50-73.109;

      c.  The partner is dissociated under subdivision 6 of § 50-73.109; or

      d.  In the case of a partner who is not an individual, trust other than a
      business trust, or estate, the partner is expelled or otherwise dissociated
      because it willfully dissolved or terminated.

C. A partner who wrongfully dissociates is liable to the partnership and to the
other partners for damages caused by the dissociation. The liability is in
addition to any other obligation of the partner to the partnership or to the
other partners.

HISTORY: 1996, c. 292.