LD 1609
pg. 24
Page 23 of 146 PUBLIC Law Chapter 543 Page 25 of 146
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LR 1469
Item 1

 
will be expelled because its right to do business has been
suspended by the jurisdiction of organization or
incorporation, there has been no reinstatement of its right to
do business by such jurisdiction; or

 
E.__A partnership that is a partner has been dissolved and
its business is being wound up;

 
5.__Expulsion by judicial determination.__On application by
the partnership or another partner, the partner's expulsion by
judicial determination because:

 
A.__The partner engaged in wrongful conduct that adversely
and materially affected the partnership business;

 
B.__The partner willfully or persistently committed a
material breach of the partnership agreement or of a duty
owed to the partnership or the other partners under section
1044; or

 
C.__The partner engaged in conduct relating to the
partnership business that makes it not reasonably
practicable to carry on the business in partnership with the
partner;

 
6.__Partner's actions.__The partner's:

 
A.__Becoming a debtor in bankruptcy;

 
B.__Executing an assignment for the benefit of creditors;

 
C.__Seeking, consenting to or acquiescing in the appointment
of a trustee, receiver or liquidator of that partner or of
all or substantially all of that partner's property; or

 
D.__Failing, within 90 days after the appointment, to have
vacated or stayed the appointment of a trustee, receiver or
liquidator of the partner or of all or substantially all of
the partner's property obtained without the partner's
consent or acquiescence or failing within 90 days after the
expiration of a stay to have the appointment vacated;

 
7.__Partner who is individual.__In the case of a partner who
is an individual:

 
A.__The partner's death;

 
B.__The appointment of a guardian or general conservator for
the partner; or


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