Effect of dissociation as limited partner.

(a) Upon a person’s dissociation as a limited partner: (1) Subject to § 29-707.04 , the person shall not have further rights as a limited partner; (2) The person’s obligation of good faith and fair dealing as a limited partner under § 29-703.05(b) shall continue only as to matters arising and events occurring before the dissociation; and (3) Subject to § 29-707.04 and subchapter X of this chapter , any transferable interest owned by the person in the person’s capacity as a limited partner immediately before dissociation shall be owned by the person as a mere transferee. (b) A person’s dissociation as a limited partner does not itself discharge the person from any debt, liability, or other obligation to the limited partnership or the other partners which the person incurred while a limited partner.