79-14-801 - Nonjudicial dissolution.
§ 79-14-801. Nonjudicial dissolution.
A limited partnership is dissolved and its affairs must be wound up upon the first of the following to occur:
(1) At the time specified in the certificate of limited partnership;
(2) Upon the occurrence of the events specified in writing in the partnership agreement;
(3) Upon written consent of all partners, or such lesser number as may be provided in the partnership agreement;
(4) An event of withdrawal of a general partner unless at the time there is at least one other general partner and the written provisions of the partnership agreement permit the business of the limited partnership to be carried on by the remaining general partner and that partner does so, but the limited partnership is not dissolved and is not required to be wound up by reason of an event of withdrawal of a general partner if, within ninety (90) days after the withdrawal, all partners agree in writing to continue the business of the limited partnership and to the appointment of one or more additional general partners if necessary or desired; or
(5) Upon the entry of a decree of judicial dissolution under Section 79-14-802.
Sources: Laws, 1987, ch. 488, § 801, eff from and after January 1, 1988.