Maine § 1062. - Partner's power to dissociate; wrongful dissociation
Full text of Maine Maine Revised Statutes § 1062. — Partner's power to dissociate; wrongful dissociation, with citation guidance and answers to common questions.
§ 1062.. Partner's power to dissociate; wrongful dissociation
1. By express will. A partner has the power to dissociate at any time, rightfully or wrongfully, by express will pursuant to section 1061, subsection 1.
2. Wrongful dissociation. A partner's dissociation is wrongful only if:
A. It is in breach of an express provision of the partnership agreement; or [PL 2005, c. 543, Pt. A, §2 (NEW).]
B. 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:
(2) The partner is expelled by judicial determination under section 1061, subsection 5;
(3) The partner is dissociated by becoming a debtor in bankruptcy; or
(4) 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 the partner willfully dissolved or terminated. [PL 2005, c. 543, Pt. A, §2 (NEW).]
3. Liability for wrongful dissociation. 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.
Source: official Maine text · Last verified 2026-08-27
Frequently Asked Questions About Maine § 1062.
What does Maine Revised Statutes § 1062. cover?
Section 1062. ("Partner's power to dissociate; wrongful dissociation") is part of the Maine Revised Statutes, the codified statutory law of Maine. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maine § 1062.?
A common citation format is "Maine Revised Statutes § 1062." (Maine). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 1062. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maine.