§ 7-64-803 — Right to wind up partnership business

Colorado § 7-64-803

• Jurisdiction: Colorado
• Title 07: Corporations
• Art.: Colorado Uniform Partnership Act (1997)

Text

(1) After dissolution, a
partner who has not wrongfully dissociated may participate in winding up the
partnership's business, but on application of any partner, partner's legal
representative, or transferee, the district court, for good cause shown, may order
judicial supervision of the winding up.

(2) The legal representative of the last surviving partner may wind up a
partnership's business.

(3) A person winding up a partnership's business may preserve the
partnership business or property as a going concern for a reasonable time,
prosecute and defend actions and proceedings, whether civil, criminal, or
administrative, settle disputes, settle and close the partnership's business, dispose
of and transfer the partnership's property, discharge or provide for the partnership
obligations, distribute the assets of the partnership pursuant to section 7-64-807,
and perform other necessary acts.

Legislative History

Source: L. 97: Entire article added, p. 892, � 1, effective January 1, 1998.