(a) If a partner’s dissociation results in a dissolution and winding up of the partnership business, Alaska Stat. § 32.06.801 – 32.06.807 apply, otherwise Alaska Stat. § 32.06.701 – 32.06.705 apply.
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Terms Used In Alaska Statutes 32.06.603

  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(b) Upon a partner’s dissociation, the partner’s

(1) right to participate in the management and conduct of the partnership business terminates, except as otherwise provided in Alaska Stat. § 32.06.803;
(2) duty of loyalty under Alaska Stat. § 32.06.404(b)(3) terminates; and
(3) duty of loyalty under Alaska Stat. § 32.06.404(b)(1) and (2) and duty of care under Alaska Stat. § 32.06.404(c) 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 under Alaska Stat. § 32.06.803.
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