LD 1609
pg. 31
Page 30 of 146 PUBLIC Law Chapter 543 Page 32 of 146
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LR 1469
Item 1

 
expression of that partner's will to wind up the partnership
business;

 
B.__The express will of all of the partners to wind up the
partnership business; or

 
C.__The expiration of the term or the completion of the
undertaking;

 
3.__Event in partnership agreement.__An event agreed to in the
partnership agreement resulting in the winding up of the
partnership business;

 
4.__Unlawful continuation; cure.__An event that makes it
unlawful for all or substantially all of the business of the
partnership to be continued, but a cure of illegality within 90
days after notice to the partnership of the event is effective
retroactively to the date of the event for purposes of this
section;

 
5.__Judicial determination; application by partner.__On
application by a partner, a judicial determination that:

 
A.__The economic purpose of the partnership is likely to be
unreasonably frustrated;

 
B.__Another partner has engaged in conduct relating to the
partnership business that makes it not reasonably
practicable to carry on the business in partnership with
that partner; or

 
C.__It is not otherwise reasonably practicable to carry on
the partnership business in conformity with the partnership
agreement; or

 
6.__Judicial determination; application by transferee.__On
application by a transferee of a partner's transferable interest,
a judicial determination that it is equitable to wind up the
partnership business:

 
A.__After the expiration of the term or completion of the
undertaking, if the partnership was for a definite term or
particular undertaking at the time of the transfer or entry
of the charging order that gave rise to the transfer; or

 
B.__At any time, if the partnership was a partnership at
will at the time of the transfer or entry of the charging
order that gave rise to the transfer.

 
§1082.__Partnership continues after dissolution


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