§ 33-41-940 — Dissolution by decree of court.

(1) On application by or for a partner the court shall decree a dissolution whenever (a) a partner has been declared a lunatic in any judicial proceeding or is shown to be of unsound mind, (b) a partner becomes in any other way incapable of performing his part of the partnership contract, (c) a partner has been guilty of such conduct as tends to affect prejudicially the carrying on of the business, (d) a partner wilfully or persistently commits a breach of the partnership agreement or otherwise so conducts himself in matters relating to the partnership business that it is not reasonably practicable to carry on the business in partnership with him, (e) the business of the partnership can only be carried on at a loss or (f) other circumstances render a dissolution equitable. (2) On the application of the purchaser of a partner's interest under SECTION 33-41-740 or 33-41-750 the court shall decree a dissolution (a) after the termination of the specified term or particular undertaking or (b) at any time if the partnership was a partnership at will when the interest was assigned or when the charging order was issued.

Legislative History

HISTORY: 1962 Code SECTION 52-64; 1952 Code SECTION 52-64; 1950 (46) 1841.