New Mexico Statutes
§ 54-1A-803 — Right to wind up partnership business
New Mexico § 54-1A-803
This text of New Mexico § 54-1A-803 (Right to wind up partnership business) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.M. Stat. Ann. § 54-1A-803 (2026).
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 district 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 partner
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Legislative History
Laws 1996, ch. 53, § 803.
Nearby Sections
15
§ 54-1-48
Repealed§ 54-1A-1001
Statement of qualification§ 54-1A-1002
Statement of qualification; name§ 54-1A-1003
Annual report§ 54-1A-101
Definitions§ 54-1A-102
Knowledge and notice§ 54-1A-103
Effect of partnership agreement; nonwaivable§ 54-1A-104
Supplemental principles of law§ 54-1A-106
Governing law§ 54-1A-1102
Statement of foreign qualification§ 54-1A-1103
Effect of failure to qualifyCite This Page — Counsel Stack
Bluebook (online)
New Mexico § 54-1A-803, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/54/54-1A-803.