§ 23-4-1-31 — Causes of dissolution

Indiana § 23-4-1-31

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 4: PARTNERSHIPS
• Ch. 1: Uniform Partnership Act

Text

Dissolution is caused:
(1) Without violation of the agreement between the partners:
(a) By the termination of the definite term or particular
undertaking specified in the agreement.
(b) By the express will of any partner when no definite term or
particular undertaking is specified.
(c) By the express will of all the partners who have not assigned
their interests or suffered them to be charged for their separate
debts, either before or after the termination of any specified
term or particular undertaking.
(d) By the expulsion of any partner from the business bona fide
in accordance with such a power conferred by the agreement
between the partners.
(2) In contravention of the agreement between the partners, where
the circumstances do not permit a dissolution under any other
provision of this section, by the express will of any partner at any
time.
(3) By any event which makes it unlawful for the business of the
partnership to be carried on or for the members to carry it on in
partnership.
(4) By the death of any partner.
(5) By the bankruptcy of any partner or the partnership.
(6) By decree of court under section 32 of this chapter.
Formerly: Acts 1949, c.114, s.31. As amended by P.L.34-1987,
SEC.299.