§ 31 §1393 — Winding up

Maine § 31 §1393

• Jurisdiction: Maine
• Title 31: PARTNERSHIPS AND ASSOCIATIONS
• Ch. 19: UNIFORM LIMITED PARTNERSHIP ACT

Text

1.
Purpose after dissolution.
A limited partnership continues after dissolution only for the purpose of winding up its activities.
2.
Winding up limited partnership.
In winding up its activities, the limited partnership:
3.
Appointment to wind up activities.
If a dissolved limited partnership does not have a general partner, a person to wind up the dissolved limited partnership's activities may be appointed by the consent of limited partners owning a majority of the rights to receive distributions as limited partners at the time the consent is to be effective. A person appointed under this subsection:
4.
Judicial supervision.
On the application of any partner, the Superior Court may order judicial supervision of the winding up, including the appointment of a person to wind up the dissolved limited partnership's activities, if:

Legislative History

PL 2005, c. 543, §C2 (NEW).