Maine § 31 §1081 Events causing dissolution and winding up of partnership business

Maine Statutes

§ 31 §1081 — Events causing dissolution and winding up of partnership business

Maine § 31 §1081

Title 31PARTNERSHIPS AND ASSOCIATIONS

Ch. 17UNIFORM PARTNERSHIP ACT

This text of Maine § 31 §1081 (Events causing dissolution and winding up of partnership business) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 31, § 31 §1081 (2026).

Text

A partnership is dissolved, and its business must be wound up, only upon the occurrence of any of the following events:

1.Notice of express will to withdraw. In a partnership at will, the partnership's having notice from a partner, other than a partner who is dissociated under section 1061, subsections 2 to 10, of that partner's express will to withdraw as a partner, or on a later date specified by the partner;

2.Dissolution before expiration of term. In a partnership for a definite term or particular 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 cont

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A partnership is dissolved, and its business must be wound up, only upon the occurrence of any of the following events:
1.
Notice of express will to withdraw.
In a partnership at will, the partnership's having notice from a partner, other than a partner who is dissociated under section 1061, subsections 2 to 10, of that partner's express will to withdraw as a partner, or on a later date specified by the partner;
2.
Dissolution before expiration of term.
In a partnership for a definite term or particular 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:
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: