§ 45-20-03 — (803) Right to wind up partnership business

North Dakota § 45-20-03

• Jurisdiction: North Dakota
• Title 45: Partnerships
• Ch. 45-20: Winding Up Partnership Business

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 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
45-20-07, settle disputes by mediation or arbitration, and perform other necessary
acts.