N.M. Stat. § 54-2A-604
Person's power to dissociate as general partner;
wrongful dissociation.
A. A person has the power to dissociate as a general partner at any time, rightfully
or wrongfully, by express will pursuant to Subsection A of Section 603 [54-2A-603
NMSA 1978] of the Uniform Revised Limited Partnership Act.
B. A person's dissociation as a general partner is wrongful only if:
(1)
it is in breach of an express provision of the partnership agreement; or
(2)
it occurs before the termination of the limited partnership, and:
(a) the person withdraws as a general partner by express will;
(b) the person is expelled as a general partner by judicial determination
pursuant to Subsection E of Section 603 of the Uniform Revised Limited Partnership
Act;
(c) the person is dissociated as a general partner by becoming a debtor in
bankruptcy; or
(d) in the case of a person that is not an individual, trust other than a business
trust, or estate, the person is expelled or otherwise dissociated as a general partner
because it willfully dissolved or terminated.
C. A person that wrongfully dissociates as a general partner is liable to the limited
partnership and, subject to Section 1001 [54-2A-1001 NMSA 1978] of the Uniform
Revised Limited Partnership Act, to the other partners for damages caused by the
dissociation. The liability is in addition to any other obligation of the general partner to
the limited partnership or to the other partners.