§ 34-374 — Right to wind up partnership business.

Connecticut § 34-374

• Jurisdiction: Connecticut
• Title 34: Limited Partnerships, Partnerships, Professional Associations, Limited Liability Companies and Statutory Trusts
• Ch. 614: Uniform Partnership Act. Limited Liability Partnerships

Text

(a) 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 Superior Court, for good cause shown, may order judicial supervision of the winding up. (b) The legal representative of the last surviving partner may wind up a partnership's business. (c) 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 and close the partnership's business, dispose of and transfer the partnership's property, discharge the partnership's liabilities, distribute the assets of the partnership pursuant to section 34-378 , settle disputes by mediation or arbitration and perform other necessary acts.

Legislative History

(P.A. 95-341, S. 41, 58.) History: P.A. 95-341 effective July 1, 1997.