SECTION 620.8803. Right to wind up partnership business.
Latest version.
1(1) 2After dissolution, a partner who has not wrongfully dissociated may participate in winding up the partnership’s business, but, upon application of any partner, partner’s legal representative, or transferee, the circuit court, for good cause shown, may order judicial supervision of the winding up.
45(2) 46The legal representative of the last surviving partner may wind up a partnership’s business.
60(3) 61A 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 s. 120620.8807, 121settle disputes by mediation or arbitration, and perform any other necessary acts.
